Yahoo Finance published this video item, entitled “LVMH stock downgraded on China concerns, weak demand” – below is their description.
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. The move mirrors calls from other banks like UBS, which have expressed concerns about decreasing consumer appetite for high-end items amid economic uncertainty.
Yahoo Finance’s Seana Smith and Bradley Smith discuss the widespread decline in the luxury item market, providing insights into how LVMH’s dependency on China could weigh on sales for the luxury house.
#youtube #luxury #shopping
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