L'Oréal: Bryan Garnier still a buyer after sales reported
(CercleFinance.com) - Bryan Garnier has confirmed its "buy" recommendation on L'Oreal, along with its fair value of 206 euros, the day after the trading update from the world leader in cosmetics for the first quarter of 2018.
The broker points out that sales over the period fell by 1.5% to 6.78 billion euros, against the consensus of 6.76 billion euros, with a negative FX impact of -8 4% (slightly above expectations).
However, the broker underlines that “Q1 revenues nevertheless grew by 6.8% organically (consensus: +5.5%), the strongest figure since Q1 2010, of which +14.9% in new markets.”
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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.
The broker points out that sales over the period fell by 1.5% to 6.78 billion euros, against the consensus of 6.76 billion euros, with a negative FX impact of -8 4% (slightly above expectations).
However, the broker underlines that “Q1 revenues nevertheless grew by 6.8% organically (consensus: +5.5%), the strongest figure since Q1 2010, of which +14.9% in new markets.”
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.