0848 GMT - Luxury companies are set to reach a point of significant change after a period of sharp declines in sales, RBC Capital Markets analyst Piral Dadhania says in a note. The industry could face a stabilization or inflection phase in revenue growth trends, perhaps as early as the fourth quarter of the current year. This should be driven by improving trends in the U.S. after the presidential election and a no-worse environment in China, Dadhania adds. RBC Capital Markets' top picks are LVMH, mainly due to its scale and diversification, Burberry, thanks to its turnaround and Watches of Switzerland, on account of its exposure to the U.S. market. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 03:48 ET (08:48 GMT)
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