Lvmh Moet Hennessy Louis Vuitton SE

MC: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€933.00	Lsnh	Cmbzlzbh

LVMH Posts Strong Top-Line Growth, but no Operating Leverage As Marketing Costs Weigh; FVE Unchanged

Jelena Sokolova

Jan 27, 2023

We are maintaining our fair value estimate of EUR 590 for wide-moat LVMH as the company reported full-year results in line with our estimates (revenue slightly higher and operating profit slightly lower than we forecast). We view shares as expensive at current levels.

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