L'Oréal: Barclays still buying, but trims TP

(CercleFinance.com) - Barclays confirms its 'overweight' recommendation on L'Oréal shares, albeit adjusting its target price from E467 to E462, pointing to a slowdown in mass-market make-up products in the US since last August.


"With US mass colour cosmetics slowing since last August, recent comments from a major US beauty retailer have strengthened investor concerns around the US beauty category", the broker points out in its note on the French cosmetics giant.

Using Nielsen and Numerator data, Barclays says it analyses underlying trends and forecasts organic sales growth of 5.3% for L'Oréal in Q1 this year.


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