UBS has revised its price target for LVMH Moët Hennessy Louis Vuitton, lowering it due to disappointing third-quarter sales figures.
The Swiss bank has maintained a "Neutral" rating on the luxury goods giant, indicating a cautious outlook amid weakening demand for luxury products, particularly in China and other markets.
The significantly weaker-than-expected quarterly performance is likely to dampen investor sentiment towards LVMH. Growing concerns about the luxury sector's resilience in the current economic climate are reflected in the report.