(News Bulletin 247) – Berenberg raised its target price on L’Oréal on Monday from 365 to 378 euros, while maintaining its ‘hold’ recommendation on the stock.
In a study released in the morning, the analyst notes that the organic growth of 8.1% generated over the past quarter testifies to a “solid dynamic”, but also judges that many uncertainties continue to surround the French group.
‘After the recent stock price rally (+16% over the last three months), we expect the stock to evolve within a limited trading range until visibility improves on several key points’, he believes.
For the title to outperform, it would be necessary – according to the intermediary – for the cosmetics market to generate growth greater than the current 4% to 5%, a level considered comparable to that of the major players in the household cleaning products sector. and personal care, which he says have far less demanding valuations.
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