L'Oréal: stock up after broker upgrade
(CercleFinance.com) - The L'Oréal share is one of the biggest winners in the CAC 40 on Tuesday, after Morgan Stanley upgraded the stock.
In a study released yesterday evening, the broker said it that it had adopted an "overweight" rating on the cosmetics giant, against "equal weight" previously, having increased its corresponding target price from 300 euros to 350 euros.
Morgan Stanley explains that after a decade marked by the growth of its digital activities, the French group should now benefit from beauty-related innovations, a trend that the broker calls "beauty tech".
According to the broker, L'Oréal's online sales could thus generate, under the impetus of the new CEO Nicolas Hieronimus, some 50% of its revenues by 2025, representing nearly 20 billion euros in five years, compared to 7.5 billion euros today.
At around 2:30 pm, the share was up over 1%, outperforming the CAC (up about 0.5%).
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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.
In a study released yesterday evening, the broker said it that it had adopted an "overweight" rating on the cosmetics giant, against "equal weight" previously, having increased its corresponding target price from 300 euros to 350 euros.
Morgan Stanley explains that after a decade marked by the growth of its digital activities, the French group should now benefit from beauty-related innovations, a trend that the broker calls "beauty tech".
According to the broker, L'Oréal's online sales could thus generate, under the impetus of the new CEO Nicolas Hieronimus, some 50% of its revenues by 2025, representing nearly 20 billion euros in five years, compared to 7.5 billion euros today.
At around 2:30 pm, the share was up over 1%, outperforming the CAC (up about 0.5%).
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.