L'Oréal: Liberum raises target price.

(CercleFinance.com) - Liberum is maintaining its "hold" recommendation on L'Oréal, while raising its target price from 170 euros to 182 euros, forecasting organic sales growth of 4.
6% over the period 2017-2021, in line with the group's long-term average.

The broker expects the cosmetics giant to outperform the 4% growth in the global market in 2017, driven by innovations, a solid year for make-up and a recovery in skincare.

However, Liberum said, “Despite strong 3Q organic sales growth, we expect a flat 18% EBIT margin in 2017 as L'Oréal invests behind digital and customer facing initiatives to support top-line growth.”



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