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Major Bank Ratings | Deutsche Bank: Cuts Target Prices for Multiple European Luxury Goods Companies Amid Sales Outlook Hit by Middle East Conflict
Guoronghui April 1 | Deutsche Bank has lowered the target prices for several European luxury goods companies. The sector has fallen by 15%-25% year-to-date, with the Middle East conflict impacting an already weak first-quarter sales outlook. Among them, the bank made the largest reduction in the target price for LVMH, lowering it from 705 euros to 620 euros, while maintaining a “Buy” rating; Hermes’ target price was cut from 2,360 euros to 2,320 euros, with a “Buy” rating maintained; Burberry’s target price was reduced from 1,550 pence to 1,480 pence, also maintaining a “Buy” rating; Moncler’s target price was lowered from 5...
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