L'Oréal: Stifel still a buyer, raises target price

(CercleFinance.com) - Stifel reinstates its "buy" rating on the L'Oréal share, while increasing its corresponding target price from 350 euros to 360 euros, after it increased its 2021-22 estimates for adjusted operating profit by 3% following the group's better-than-expected 2020 results.


"L'Oréal is gaining significant market share in the most attractive secular growth avenues in the beauty category, namely Asia, luxury, skincare and e-commerce," it said.

According to the broker, the French cosmetics giant " is ready to benefit from a beauty market rebound when Western economies reopen". It also sees L'Oréal reaching a sustainable margin of 20% in the coming years.


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