Joby Aviation closes $591 million stock offering with full underwriter option
Investing.com -- Deutsche Bank has upgraded Burberry Group and LVMH as European luxury stocks showed sequential improvement in third-quarter sales.
Burberry was raised to “buy” from “hold” rating, with its target price increasing from 1200p to 1500p. LVMH moved to “buy” from “hold” rating, and its target price rose to €635 from €520.
Richemont retained a “hold” rating, with its target price adjusted higher from CHF145 to CHF170.
Hermes kept its “buy” rating, although its target price was slightly lowered from €2450 to €2420.
Kering remained on “hold,” with the target price increasing from €168 to €290. Ermenegildo Zegna Group maintained its “buy” rating, with the target price rising from $9 to $12.
The brokerage noted that investor sentiment shifted quickly during the third quarter after a sequential improvement in constant foreign exchange sales growth.
Deutsche Bank said the sector is still in the early stages of recovery, and any evidence of improvement in China could support further gains.
It added that fourth-quarter sales may show volatility due to tougher comparisons in the U.S., but any concerns should be seen as opportunities to invest.
The brokerage flagged that investors are focused on the sequential sales recovery driven by a Chinese recovery in 2026.