LVMH is trading at $536.66 (-3.36%) as renewed caution across European luxury stocks weighs on shares.
- Deutsche Bank reportedly lowered its LVMH price target to €590 from €600 while retaining a Buy rating; LVMH was down 1.8% in Paris.
- Investors remain concerned about luxury-demand recovery following the company’s weaker-than-expected Fashion & Leather Goods growth reported in July.