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L'Oréal: Oddo BHF raises target price

( - On Monday morning, an analyst at Oddo BHF said that he has raised his target price for the L'Oréal share from 234 euros to 284 euros.

This broker's increased target price is now pretty much in line with its current price (287.4 euros, -1% just over one hour into trading on Monday); with downside limited to around 2%: this explains why the broker remains neutral on the stock.

It says that it expects management to remain confident about a recovery in growth in H2, citing the fact that this is more a crisis in supply than demand. Although it agrees with this message, above all it is a matter of the extent of the recovery that is important. At this stage, analysts expects H2 2020 EPS growth of 8%, with organic growth of +6% and a slight increase in its OM (+17 bp), which should result in 2020 ending with EPS limiting its decline to 4%, the broker says, with the company due to publish its results at the end of the month.

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