L'Oréal: stock falls on broker downgrade
(CercleFinance.com) - The L'Oréal share is down 0.
9%, with Berenberg downgrading it from "hold" to "sell", despite raising its target price from 225 euros to 241 euros for the share.
The broker still believes that L'Oréal outperforms all personal care and household products in terms of management achievements and “we do not dispute the high quality of the company's business model”.
Nevertheless, Berenberg says, "we struggle to justify the stock's recent surge (+41% surge since 16 March 2020). We believe it is prudent to take profits on L'Oréal at these levels".
Copyright (c) 2020 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.
9%, with Berenberg downgrading it from "hold" to "sell", despite raising its target price from 225 euros to 241 euros for the share.
The broker still believes that L'Oréal outperforms all personal care and household products in terms of management achievements and “we do not dispute the high quality of the company's business model”.
Nevertheless, Berenberg says, "we struggle to justify the stock's recent surge (+41% surge since 16 March 2020). We believe it is prudent to take profits on L'Oréal at these levels".
Copyright (c) 2020 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.