After a tough quarter for global luxury, Barclays names 3 stocks to play the sector right now

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Moncler Spa,Compagnie Financiere Richemont SA,Barclays PLC

Chinese consumers may be cutting their spending on luxury goods, but analysts note that several companies in the sector make good plays right now.

Consumers, particularly those in China, have been tightening their purse strings and cutting their spending on luxury goods in light of macroeconomic uncertainties. But Barclays notes that several companies in the sector make good plays right now. The MSCI Europe textiles, apparel and luxury index has fallen nearly 3% in the last month. Year-to-date, the index is up by nearly 5.8%, but has plunged by 8.6% in the last 12 months.

Barclays is bullish on French label and raised its target price by nearly 13.6% to 937 euros . That gives the stock — whose rating was raised to "overweight" — just over 20.2% upside potential. 's portfolio includes Tiffany & Co, Christian Dior, Louis Vuitton and Sephora. " -owned brands continued to enjoy strong desirability in Q1," Barclays's analysts noted, adding that Dior and Louis Vuitton remain in the top five most purchased brands of the names the bank covers, with 36% and 28% of those surveyed having bought from them, respectively, in the quarter. Tiffany topped the list for the jewelry segment. Moncler Italian fashion house Moncler also made it to Barclays' list "despite signs of normalising trend in April.

 

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