Why LVMH Moët Hennessy Stock Was Sinking Today

Luxury-goods stock LVMH Moët Hennessy (OTC: LVMUY) wasn't looking too exclusive on Hump Day. The company's share price had eroded by nearly 4% at market close, due in no small part to an analyst's rather assertive price-target cut. That tumble was significantly steeper than that of the S&P 500 index, which ended the day down 0.2%.That analyst was Morgan Stanley's Edouard Aubin, who reduced his price target on LVMH's Europe-listed shares to 715 euros ($790) apiece from his previous estimation of 760 euros ($840). That's quite a change. Nevertheless, Aubin maintained his equal-weight (i.e., hold) recommendation on the high-end consumer goods' stock. The pundit's adjustment was due to modifications in his revenue and earnings before interest and taxes (EBIT) for both full-year 2024 and 2025. He now feels that LVMH's top line will decline by 2% this year, compared to last, and by 3% in 2025. Those estimates for EBIT are a respective 3% and 4%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool