Barclays initiates coverage of 11 luxury stocks after de-rating
Burberry Group
1,213.00p
16:40 28/03/24
-1.50%
-18.50p
Barclays initiated coverage on Wednesday of 11 stocks in the European luxury goods sector.
CAC 40
8,205.81
17:00 28/03/24
0.01%
1.00
Cboe Europe All Companies
52.14
11:45 01/12/20
0.22%
0.11
Cboe Europe All Companies ex UK
20,722.25
11:45 01/12/20
0.11%
23.73
Cboe Europe Consumer Cyclicals Sector
30,141.07
11:45 01/12/20
0.26%
79.00
Cboe Eurozone All Companies
19,062.41
11:45 01/12/20
0.10%
19.85
Cboe IT 40
3,364.66
13:20 01/12/20
-0.08%
-2.84
DJ EURO STOXX 50
5,083.42
00:00 29/03/24
0.03%
1.68
FTSE 100
7,952.62
17:14 28/03/24
n/a
n/a
FTSE 350
4,383.21
17:14 28/03/24
n/a
n/a
FTSE All-Share
4,338.05
16:50 28/03/24
n/a
n/a
Hermes International
€2,366.00
17:19 28/03/24
-0.92%
-€22.00
Kering
€366.35
17:19 28/03/24
-0.07%
-€0.25
LVMH
€833.70
17:19 28/03/24
0.41%
€3.40
Personal Goods
17,061.12
17:14 28/03/24
-1.10%
-189.16
Salvatore Ferragamo Spa
€11.20
16:30 28/03/24
0.00%
€0.00
Swatch Group AG
€0.00
07:46 20/03/24
0.00%
€0.00
The bank said it’s a secular growth and high-quality sector that has been trading at all-time highs, but the recent de-rating presents a "buying opportunity".
Barclays stated Swatch, Prada, LVMH, Richemont and Kering at ‘overweight’. Meanwhile, Hermes, Moncler, Mulberry and Burberry were started at ‘equalweight’. Tod's and Ferragamo were started at ‘underweight’ .
The bank said its preferred names are Swatch and LVMH, while its least preferred is Tod's.