L'Oréal: change of group head, Oddo remains on neutral

(CercleFinance.com) - L'Oréal must today name the successor of Jean-Paul Agon to head the group.
Oddo considers the logical choice to be Nicolas Hiéronimus, which could be welcomed by investors.

Citing press sources (Le Figaro and Capital), Oddo indicates that M. Agon should maintain the role of chairman but transfer the functions of CEO to Hiéronimus. The broker considers that the probability of seeing a change in the strategic or operational course is minimal.

Therefore Agon's succession remains open but not urgent. In this context, the broker maintains its 'neutral' recommendation with a target price of 271 euros.

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