LVMH price target lowered to EUR 750 from EUR 800 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on LVMH to EUR 750 from EUR 800 and keeps an Outperform rating on the shares. While the slowing luxury demand does not come as a surprise and expectations have been moderating heading into quarterly results, the firm sees the organic sales decline still “disappointing,” the analyst tells investors. However, given the company’s broadly diversified portfolio of strong brands, the firm continues to prefer the name in the space.