LVMH Moet Hennessy Louis Vuitton SE (MC:FP) (LVMUY) PT Raised to EUR610 at Cowen
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Cowen analyst Oliver Chen raised the price target on LVMH Moet Hennessy Louis Vuitton SE (MC:FP) (OTC: LVMUY) to EUR610.00 (from EUR510.00) while maintaining an Outperform rating. Maintains as Top Idea.
The analyst commented, "We model consistent growth & believe LVMH upside can be driven in multiple scenarios: where (1) "zooming and cocooning" and luxury spending continues; and also where (2) under a COVID-19 recovery as stores traffic improves. 4Q organic top-line growth in line with Street at -3% yielding sequential improvement from 3Q’s -7% y/y."
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