L'Oréal: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse points out that L'Oréal reported Q2 growth of 33.
5% (i.e. 8.4% cumulative growth over two years), with an impressive rebound in the US (+47%) and a continued momentum in China (+30%).

As a result of the stronger-than-expected recovery, Credit Suisse has raisec its FY2021 organic sales growth estimate to 12.5% (from 10.0%), now expecting an EBIT margin of 19.0% (vs. 18.8% previously), resulting in a 6% increase in its EPS estimate.

Analysts have raised their target price for the share to 285 euros (from 242 euros - current price about 395 euros, +0.5%). Credit Suisse maintains an Underperform rating on the stock.


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