UBS has lowered its price target for LVMH Moët Hennessy Louis Vuitton from 660 euros to 629 euros, while maintaining a "Neutral" rating.
The adjustment is a response to disappointing sales figures in the third quarter, which are expected to negatively impact investor sentiment.
Analyst Zuzanna Pusz notes a decline in demand for luxury goods, not only in China but also in other markets.
The revised target reflects concerns about the overall performance of the luxury market, as LVMH faces challenges due to changing consumer preferences.
The findings were published on October 15, 2024, and suggest a cautious outlook for the luxury sector going forward.