LVMHF Stock Recent News
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The world's largest luxury group saw its shares tumble as much as 7.5% Wednesday morning to a two-year low before ticking back up by the afternoon.
LVMH posted a year-over-year sales decline in the third quarter, showing the continuing pressure on the luxury sector from weak Chinese spending.
Amy Raskin, CIO at Chevy Chase Trust, joins CNBC's "Halftime Report" to explain why she's trimming LVMH at these levels.
'Mad Money' host Jim Cramer looks at Europe's top performing stocks, deemed the 'Super 7'.
'Mad Money' host Jim Cramer looks at Europe's top performing stocks, deemed the 'Super 7'.
LVMH shares jumped more than 8% on Friday morning after the world's largest luxury group posted higher-than-expected sales for 2023 and raised its annual dividend.
The global luxury market is set to reach $1.5 trillion by the end of 2023. Consumer behavior reveals a predilection for lavish products, even against an uncertain financial backdrop.
Morgan Stanley downgraded global luxury leader LVMH (MC.PA) from "Overweight" to "Equal Weight." The bank also slashed the stock's price target from $936 to $860, citing weak demand and concerns about its dependency on China.
In the last three months, the market saw a significant decline due to rising rates and economic uncertainty, with luxury stocks taking a major hit. LVMH's heavy reliance on the US and Asian markets, combined with slowing sales in the US and economic challenges in China, has thrust the company into the spotlight. In my view, LVMH holds a robust position in both markets. Considering its target demographic, I believe the fears are exaggerated, presenting a compelling opportunity for long-term investors.
Strong demand from Europe and China has fueled growth for Hermes and LVMH Moet Hennessy. Each company is expanding its margins, growing profits, and paying a dividend.