L'Oréal: Jefferies still on hold, same TP

(CercleFinance.com) - Jefferies maintains its "Hold" rating on L'Oréal shares, sticking to its target price of E365.


The analyst is basing his opinion on Q3 results that fell short of expectations: Sales were well below expectations 3.4% LFL growth vs. 6.0%, the broker notes.

Given the nervousness surrounding the sustainability of beauty growth and the future of China, Jefferies expects shares to react negatively and further downward revisions to high LFL expectations for FY25, and perhaps in the medium term, the analyst adds.


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