RBC cuts LVMH view as luxury demand weakness weighs on growth
RBC Capital Markets has downgraded LVMH Moet Hennessy Louis Vuitton to "sector perform" from "outperform" and cut its 12-month price target due to a weaker macroeconomic and luxury demand environment. The brokerage cited the Middle East conflict, higher oil prices, equity market volatility, and tighter monetary policy as factors weighing on consumer spending. RBC expects fiscal 2027 group organic revenue growth of 3.1%, below consensus of 4.6%, with Fashion & Leather Goods growth at 1% versus 4.1% expected by the Street.
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