L'Oréal: Oddo raises EBITDA estimates
(CercleFinance.com) - Following the publication of L'Oréal's first-quarter figures, Oddo has raised its 2018 and 2019 estimates for operating profit (EBITDA) by 1%.
The broker's analysts have raised their target price for the share to 215 euros (against 210 euros previously) and maintain their Buy rating on the share.
L'Oréal posted Q1 2018 sales of 6,848 million euros, up 6.8%, 1% above Oddo's expectations (6,710 million euros) and in line with the consensus. In organic terms, growth came in well above Oddo's expectations and the consensus (respectively at +5.4% and +5.6%).
The broker underlines the performance of the group's luxury division and China, which soared, explaining almost all this strong performance.
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.
The broker's analysts have raised their target price for the share to 215 euros (against 210 euros previously) and maintain their Buy rating on the share.
L'Oréal posted Q1 2018 sales of 6,848 million euros, up 6.8%, 1% above Oddo's expectations (6,710 million euros) and in line with the consensus. In organic terms, growth came in well above Oddo's expectations and the consensus (respectively at +5.4% and +5.6%).
The broker underlines the performance of the group's luxury division and China, which soared, explaining almost all this strong performance.
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.