L'Oréal: Stifel lowers target price

(CercleFinance.com) - While maintaining its 'buy' recommendation on L'Oréal, Stifel has lowered its price target from E470 to E450, in the wake of a 1.
5% reduction in its 2024-25 OP expectations for the cosmetics group.

The broker factors in weaker growth assumptions for luxury goods and North Asia, due to persistently low Chinese consumer confidence and deteriorating momentum in Chinese shopping mall footfall.

While acknowledging the weak market trends in China in Q2, Stifel nevertheless considers that these can be largely priced in, with the stock having fallen 10% over the past month.


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