Luxury China Fears Overstated, Create Opportunities: Kepler
2018-10-05 07:56:20.423 GMT
By Albertina Torsoli
(Bloomberg) -- Thursday’s sellout in luxury stocks amid
fears of a potential decline in Chinese tourism and tighter
security checks at Chinese borders on travelers from abroad were
“overstated, creating appealing investment opportunities,”
according to Kepler analyst Aurelie Husson-Dumoutier.
* Kepler reiterates it’s not expecting a massive crash in
Chinese consumption of luxury goods; notes it has integrated
into its forecasts a “natural” and “rather logical considering
the comparison base” slowdown
* Says “positive” data released overnight from Macau, pointing
to stronger-than-expected visitors’ growth during the first 4
days of Golden Week, could offer “some relief” to luxury shares
Friday
* Kepler reaffirms buy recommendations on LVMH (shares down 0.3%
as of 9:35am in Paris trading), Kering (-0.6%), Richemont
(-0.8%) and Swatch (-0.4%)
* NOTE: Earlier, Luxury Investors Alarmed Amid Talk of China
Border Crackdown
To contact the reporter on this story:
Albertina Torsoli in Geneva at atorsoli@bloomberg.net
To contact the editors responsible for this story:
Celeste Perri at cperri@bloomberg.net
James Cone
2018-10-05 07:56:20.423 GMT
By Albertina Torsoli
(Bloomberg) -- Thursday’s sellout in luxury stocks amid
fears of a potential decline in Chinese tourism and tighter
security checks at Chinese borders on travelers from abroad were
“overstated, creating appealing investment opportunities,”
according to Kepler analyst Aurelie Husson-Dumoutier.
* Kepler reiterates it’s not expecting a massive crash in
Chinese consumption of luxury goods; notes it has integrated
into its forecasts a “natural” and “rather logical considering
the comparison base” slowdown
* Says “positive” data released overnight from Macau, pointing
to stronger-than-expected visitors’ growth during the first 4
days of Golden Week, could offer “some relief” to luxury shares
Friday
* Kepler reaffirms buy recommendations on LVMH (shares down 0.3%
as of 9:35am in Paris trading), Kering (-0.6%), Richemont
(-0.8%) and Swatch (-0.4%)
* NOTE: Earlier, Luxury Investors Alarmed Amid Talk of China
Border Crackdown
To contact the reporter on this story:
Albertina Torsoli in Geneva at atorsoli@bloomberg.net
To contact the editors responsible for this story:
Celeste Perri at cperri@bloomberg.net
James Cone