Deutsche Bank: lowers target prices for several European luxury goods companies, Middle East conflict impacts sales prospects

Deutsche Bank has lowered the target prices of several European luxury goods companies, with the sector falling 15%-25% year to date due to the impact of the Middle East conflict on already weak first-quarter sales prospects. Among them, the bank's target price for LVMH has been reduced the most, from 705 euros to 620 euros, while still maintaining a "buy" rating; the target price for Herms has been lowered from 2,360 euros to 2,320 euros, with a "buy" rating maintained; Burberry's target price has been reduced from 1,550 pence to 1,480 pence, also maintaining a "buy" rating; Moncler's target price has been reduced from 57 euros to 55 euros, and that of the Kering Group has been lowered from 295 euros to 290 euros, with both maintaining a "hold" rating.