MARKET TALK: Bernstein Raises LVMH Target To EUR100

23rd Jul 2010 08:05

0705 GMT [Dow Jones] Bernstein raises LVMH (MC.FR) target to EUR100 from EUR95 after updating forecasts to reflect the positive effect of a weaker euro and likely solid 1H trading. Says the euro's current level compared to the dollar, if maintained throughout the year, would add 4% annual growth to revenues for LVMH and Richemont (CFR.VX). Notes Hermes (RMS.FR) and Burberry (BRBY.LN) 1H results confirm strength in emerging markets, rebounding sales in US and initial positive signs in Europe. Rates LVMH and Richemont market perform. Shares -0.4% at EUR92.84. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 03:05 ET (07:05 GMT)