(News Bulletin 247) – Stifel reiterates its ‘buy’ recommendation on L’Oréal with a price target raised from 450 to 480 euros, in the wake of EBIT assumptions for 2023-24 raised by around 1% to reflect a strong start to 2023 for the French cosmetics giant.
According to him, the dynamism of the global beauty market, sustained market share gains since the beginning of the year, and accelerated growth prospects for luxury and North Asia create room for further increases. of consensus.
Adding that ‘earnings visibility is excellent’ and that ‘investors currently favor high-quality names with defensive attributes and exposure to China’, Stifel believes that ‘L’Oréal ticks all these boxes’, justifying its premium of valuation.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
