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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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
“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.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.