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L'Oréal: Bryan Garnier maintains 'buy' rating

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the L'Oreal stock, along with its fair value of 206 euros, which is one of its top picks, after the group's analyst's meeting on Friday, which confirmed its positive stance towards the share.

The broker points to expected acceleration in the global cosmetics market in 2018, recent gains in market share, "significant" organic sales growth and improved profitability.

Bryan Garnier expects organic sales growth to reach 5.5% (vs. 4.7% previously), the strongest since 2010, as well as a 30 basis point improvement in its operating margin to 18.3%.

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