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L'Oréal: still a buyer, UBS raises target price.

(CercleFinance.com) - Once again Swiss bank UBS has praised the quality of quarterly sales reported by L'Oréal.

Maintaining its buy rating, analysts have raised their earnings estimates, and therefore their (12-month) target price, which is they have upped from 193 euros to 210 euros (+8.8%).

The broker's report points out that that, at 5.1%, L'Oréal's Q3 organic sales growth, exceeded the consensus (around +4.5%).

“L'Oréal has the structural advantage of a diversified portfolio; and its investment into digital, new channels & brands is clearly bearing fruit,” UBS welcomes.

“Acceleration in skin care and resilience in make-up/luxury give us confidence that Q4 is set to be another strong quarter,” analysts add, who expect like-for-like growth of 5.2%.

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