-30.5% in twelve months: LVMH stock gains nearly 1%
The luxury giant is recovering some ground in mid-morning trading, in a CAC 40 oriented upwards. This rebound comes after a sharp decline in recent weeks, at a time when two brokerage firms are adjusting their price targets.
A measured rebound that leaves the security below its three moving averages
The LVMH share gains 0.81% to €384.00, compared to €380.90 at the previous close, and is advancing slightly slower than the CAC 40 (+0.59%) would suggest for a security of this size. The share remains well below its 20-day moving average at €401.64 (a gap of 4.39%), and even further from its 50-day moving average at €437.13 and its 200-day moving average at €493.79, with the latter standing more than 22% above the current price. The RSI at 26 signals an oversold configuration, following a decline of 10.5% over one month and 22.5% over three months. The support level at €379.50, close to the current price, marks the lower bound of this sequence.
HSBC and UBS lower their price targets on the luxury group
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Two brokerage firms have revised their targets downward in recent sessions. HSBC lowered its target from €490 to €440 with a hold rating, published today, which remains 14.6% above the current price. UBS reduced its target from €645 to €525 while maintaining its buy rating, representing a potential of 36.7% from €384.
These revisions come in addition to a half-year publication that had highlighted an acceleration in growth in the second quarter, but also a negative currency effect of 5% on sales. The first-half figures, published on July 27, also cited the Middle East conflict among the risks. The level of €379.50, very close to the current price, remains noteworthy.
Accélération de la croissance au 2ème trimestre ; Résultats semestriels solides
Risks mentioned
Contexte géopolitique et économique perturbé, amplifié par le conflit au Moyen-Orient
Effet de change négatif de -5 % pesant sur les ventes et le résultat opérationnel
Effet périmètre défavorable de -1 % lié aux cessions (DFS, Marc Jacobs)
Opportunities identified
Succès des premières créations de Jonathan Anderson pour Christian Dior
Nouveaux flagships Louis Vuitton de Pékin et Séoul aux excellents résultats
Accélération de Montres et Joaillerie : Tiffany et Bvlgari, record de ventes Eclettica
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
