Why LVMH Moët Hennessy Stock Topped the Market Today

The publication of a bullish new analyst note was all the news LVMH Moët Hennessy (OTC: LVMUY) stock needed to cruise to a satisfying gain on Thursday. That note, which laid out a strong buy case, helped propel the luxury-goods purveyor's share price almost 3% higher, comparing quite favorably to the 0.2% bump of the benchmark S&P 500 index on the day.Well before market open, TD Cowen's Oliver Chen reiterated his buy recommendation and price target of 700 euros ($755) per share of LVMH's Europe-listed stock. According to reports, Chen is particularly encouraged by the company's strong brand portfolio, which consists of some of the most desirable luxury products available. He also looks forward to LVMH introducing more modestly priced new goods to appeal to the aspirational customer segment. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool