L'Oréal: UBS reiterates buy rating
(CercleFinance.com) - The analyst believes that Q3 is in line with estimates, despite the reduction in Travel Retail activity in Asia.
Following the announcement of Q3 figures, UBS reiterates its Buy rating on the stock, leaving its target price unchanged at E495.
"This is another double-digit quarter in LFL (in line with forecasts) despite the much greater-than-expected negative impact of inventory reductions in Travel Retail in Asia" UBS says.
For the record, the group reported sales of E30.57bn at 30 September 2023, up 9.4%: LFL group sales growth was +12.6%.
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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.
Following the announcement of Q3 figures, UBS reiterates its Buy rating on the stock, leaving its target price unchanged at E495.
"This is another double-digit quarter in LFL (in line with forecasts) despite the much greater-than-expected negative impact of inventory reductions in Travel Retail in Asia" UBS says.
For the record, the group reported sales of E30.57bn at 30 September 2023, up 9.4%: LFL group sales growth was +12.6%.
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.