(CercleFinance.com) – Stifel reaffirms its ‘buy’ recommendation on L’Oréal with a price target raised from 450 to 490 euros, studying the drivers behind the success of dermatological beauty, its fastest growing and most profitable in recent years.
‘Above-trend growth for dermatological beauty and consumer products in Western and emerging markets should continue to successfully offset a weak beauty market in China,’ says the broker.
“Gross margin expansion provides fuel for reinvestment and operating margin expansion,” adds Stifel, which lowers its 2024-25 estimates for L’Oréal by 1%, purely due to effects. negative exchange rates.
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