Shares in LVMH (LVMH.PA) rise 2.2 percent to 72.80 euros, as RBS upgrades it to “hold” from “sell” describing the luxury goods company as a “safer haven in still rough waters”.
The broker says LVMH will benefit from exposure to China via its Louis Vuitton and Hennessy brands, as well as Parfums Christian Dior.
RBS ups its price target on LVMH shares to 70 euros, from 66.4. It raises earnings forecasts, reflecting its upbeat view on top-line growth. Reuters Messaging rm://firstname.lastname@example.org