European luxury stocks face decline amid warnings of slowing demand
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Morgan Stanley switches stance on these 2 luxury goods stocks
September 26, 2023 2:26 PM EDTLuxury brands have been in focus over the last week or so, and this week, Morgan Stanley analysts got in on the act, re-rating two stocks in the luxury goods sector.
The Morgan Stanley note follows BofA's memo on Monday, which stated that demand is normalizing and they are cautious about companies with higher exposure to younger, less affluent customers.
Meanwhile, Morgan Stanley analyst Edouard Aubin lowered the firm's organic growth forecasts by 200-800bps for most... More
