L'Oréal: UBS maintains 'buy' rating after trading update
(CercleFinance.com) - UBS has confirmed its "buy" rating on the L'Oréal share, also sticking to its target price of 260 euros, which suggests upside potential of 8% for the share of the global leader in cosmetics.
Organic sales growth of 7.7% in Q1 defies those who criticise L'Oréal. Demand in the Asia-Pacific zone is proving to be resilient, despite a difficult comparison basis, the broker pointed out the day after the group's trading update.
Hailing this organic sales growth, which it considers to be significantly above expectations, the broker says that it expects improvements in the consensus for the group.
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