L'Oréal: Stifel remains a buyer, cutting TP
(CercleFinance.com) - Stifel confirms its "buy" rating on L'Oréal shares, while reducing its corresponding target price from E480 to E450, maintaining its 2023-25 sales and EBIT estimates pretty much unchanged after sales growth came in in line with forecasts in Q3.
"L'Oréal's portfolio strength and diversification in beauty enabled the group to offset temporary pockets of weakness in Hainan/Korea and a sluggish Chinese beauty market," the broker summarises.
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.
"L'Oréal's portfolio strength and diversification in beauty enabled the group to offset temporary pockets of weakness in Hainan/Korea and a sluggish Chinese beauty market," the broker summarises.
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.