Barclays ups LVMH, Kering on above-market growth prospects

Kering SA

12/05/2026 10:13

** Barclays says it favours luxury stocks that can deliver above-market growth through self-help

** While expecting the luxury sector to grow about 3% in 2026 before stabilising at around 4%, it upgrades French luxury goods companies LVMH LVMH.PA and Kering PRTP.PA

** It raises LVMH to "overweight" from "equal weight", noting room for turnaround-driven growth acceleration at its Dior and Tiffany brands that could result in market share gains

** Barclays adds LVMH is trading at a discount to history with no major downside risks, making it its cheapest covered stock barring Prada 1913.F

** The brokerage ups Kering to "equal weight" from "underweight", seeing structural changes that could deliver material cost savings

** "We expect Kering to outperform its addressable market by c.4% per annum over FY27-29 and deliver c.8% revenue CAGR"

** Among the 30 analysts covering LVMH, 20 rate the stock "strong buy" or "buy,"​ eight rate "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data

** Out of 27 analysts that cover Kering, four rate the stock "strong buy" or "buy,"​ 19 "hold" and four​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))