Why LVMH Moët Hennessy Stock Was Sinking Today

Lowered estimates, due mainly to discouraging consumer trends in China, prompted a re-evaluation of the company's value. Luxury-goods stock LVMH Moët Hennessy (LVMUY -3.61%) wasn't looking too exclusive on Hump Day. The company's share price had eroded by nearly 4% at market close, due in no small part to an analyst's rather assertive price-target cut. That tumble was significantly steeper than that of the S&P 500 index, which ended the day down 0.2%. Time for a price-target chop That analyst was Morgan Sta ...