L'Oréal: Morgan Stanley confirms rating
(CercleFinance.com) - The group announced net income, group share excluding non-recurrent items of 4,356 million euros, up 9.
At 7.74 euros, EPS rose by 9.3%, while net income, group share was 3,750 million euros.
Following this publication, Morgan Stanley confirms its neutral rating on the share, with a target price of 235 euros.
Morgan Stanley highlights the record new growth rate (best year since 2007). The company said that this is its highest growth in over a decade. "It comfortably puts L'Oréal at the top end of the Staples group and continues an ongoing trend of market outperformance," the broker says. "L'Oréal's flywheel is accelerating".
"Looking to 2020 L'Oreal remains confident in outperforming the Beauty market, expecting a temporary impact to China/Asia Travel Retail," Morgan Stanley adds.
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