Barcelona-based bank has stated that the world's largest luxury stocks, including LVMH and Kering, are now offering the best value in a decade. The conflict in the Middle East has negatively impacted the sector, contributing to a slowdown in organic growth and a shift in consumer behavior. Barclays sees upside in "self-help stories" such as LVMh and Kered, as well as "favors companies" with higher exposure to jewelry and American consumers. The bank also upgraded LVH to overweight and KGR to equal weight, and expects Kering's growth to grow at above-market rates of 8% through 2028 and its profit margin to double by 2029. However, Barclays has slashed its price target for market darling Hermes from 2,310 euros to 1,700 euros, while maintaining an equal weight rating.