L'Oréal: Barclays still a buyer but trims TP
(CercleFinance.com) - While reducing its target price for L'Oréal shares from E443 to E423, Barclays maintains its "overweight" rating on them, anticipating organic sales growth of 11.
7% for the world's leading cosmetics company in Q3 2023.
"Investor nervousness around China slowdown feels high, but we expect this to be offset by strength elsewhere, especially the CeraVe rollout in Europe", the broker believes.
"We continue to view L'Oréal as one of the highest quality earnings compounders in Consumer Staples, with far more diversified growth than the market realises," it adds.
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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.
7% for the world's leading cosmetics company in Q3 2023.
"Investor nervousness around China slowdown feels high, but we expect this to be offset by strength elsewhere, especially the CeraVe rollout in Europe", the broker believes.
"We continue to view L'Oréal as one of the highest quality earnings compounders in Consumer Staples, with far more diversified growth than the market realises," it adds.
Copyright (c) 2023 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.