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L'Oréal: Bryan Garnier raises target price after Q3 results.

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on L'Oréal, raising its fair value from 188 euros to 206 euros, the day after the world leader in cosmetics published its quarterly results.

“L'Oréal group sales grew 4.5% organically to EUR 19.5bn over 9m, implying +5.1% in Q3 alone, following +4.3% in Q2, on a quite demanding comparison basis,” the broker said.

Bryan Garnier explains that this growth was mainly due to the luxury division, where performance remained very strong, with Q3 revenues up 11.2%, particularly thanks to travel retail and business in Asia-Pacific.

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