L'Oréal: Oddo cuts target price
(CercleFinance.com) - Oddo has trimmed its target price for the L'Oréal share to 210 euros (from 212 euros), while maintaining its buy rating on the stock.
Q4 2017 sales came in at 6,514 million euros, in line with Oddo's expectations and the consensus. H2 2017 operating income came in at 2,146 million euros (OM of 17%; +20 bp), 1% below Oddo's expectations and the consensus.
The broker has cut its estimate for the group's operating profit by around 3% in 2018e and 2019e, particularly due to recent FX factors.
Nestlé will be free to act as it wishes with its stake in L'Oréal from 21 March. L'Oréal says that it is prepared to buy back the stake if it were to be for sale. If this occurs, it would boost the share's price, Oddo says.
Copyright (c) 2018 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.
Q4 2017 sales came in at 6,514 million euros, in line with Oddo's expectations and the consensus. H2 2017 operating income came in at 2,146 million euros (OM of 17%; +20 bp), 1% below Oddo's expectations and the consensus.
The broker has cut its estimate for the group's operating profit by around 3% in 2018e and 2019e, particularly due to recent FX factors.
Nestlé will be free to act as it wishes with its stake in L'Oréal from 21 March. L'Oréal says that it is prepared to buy back the stake if it were to be for sale. If this occurs, it would boost the share's price, Oddo says.
Copyright (c) 2018 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.