LVMH stock loses France's market crown as analysts cut targets
Published on 09/16/2026 at 15:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
LVMH Moet Hennessy Louis Vuitton stock (FR0000121014) fell 2.64 percent to EUR 406.45 on September 15, 2026, while its market value slipped to about EUR 201 billion. On September 15, 2026, Reuters reported that L'Oreal overtook LVMH in market capitalization, with LVMH at EUR 202.05 billion.
Bernstein trims its view
On September 15, 2026, Bernstein cut its price target for LVMH to EUR 520 from EUR 570, according to Sina Finance. The same report said JPMorgan lowered its target to EUR 525 from EUR 580 on September 14, 2026, as pressure on fashion and leather goods persisted.
That combination matters because the stock was already down more than 35 percent year to date, according to the same Reuters report. The move also put LVMH below L'Oreal in French market capitalization for the first time in years.
Half-year numbers stay in view
For the first half of 2026, LVMH reported revenue of EUR 38.644 billion, down 3 percent year on year, with organic growth of 2 percent and recurring operating profit of EUR 8.691 billion, down 4 percent, according to 21jingji. Net profit was EUR 5.697 billion, broadly unchanged from a year earlier, while fashion and leather goods revenue fell 1 percent on an organic basis to EUR 18.146 billion.
For investors, the key comparison is clear: a 2.64 percent daily drop sits beside a 3 percent decline in half-year revenue and a 4 percent fall in recurring operating profit. The stock price is testing whether that weaker earnings profile is already fully reflected.
EUR 406.45 stays the reference
LVMH stock closed at EUR 406.45 on Euronext Paris on September 15, 2026, with volume of 665,584 shares, according to ad hoc news. The session left the shares near the lower end of their recent trading range and under the EUR 520 target Bernstein now sees.
