PARIS — Battered by a global recession, the war in Iraq and the spread of deadly pneumonia, can the luxury sector get any worse?

Hardly, according to Morgan Stanley’s chief luxury analyst, Claire Kent, who predicts "we may be near the low point for luxury goods." In a research note Tuesday, Kent advises investors to "buy on weakness," noting, however, that they need to look through current news events impacting the sector for 12-month investments.

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