L'Oréal: Stifel still a buyer, raises target price
(CercleFinance.com) - Stifel reinstates its "buy" rating on the L'Oréal share, while increasing its corresponding target price from 350 euros to 360 euros, after it increased its 2021-22 estimates for adjusted operating profit by 3% following the group's better-than-expected 2020 results.
"L'Oréal is gaining significant market share in the most attractive secular growth avenues in the beauty category, namely Asia, luxury, skincare and e-commerce," it said.
According to the broker, the French cosmetics giant " is ready to benefit from a beauty market rebound when Western economies reopen". It also sees L'Oréal reaching a sustainable margin of 20% in the coming years.
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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.
"L'Oréal is gaining significant market share in the most attractive secular growth avenues in the beauty category, namely Asia, luxury, skincare and e-commerce," it said.
According to the broker, the French cosmetics giant " is ready to benefit from a beauty market rebound when Western economies reopen". It also sees L'Oréal reaching a sustainable margin of 20% in the coming years.
Copyright (c) 2021 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.