L'Oréal : BPA à +31% : effet cascade. 2022 déjà > consensus avec un S2 stable
>Un S1 qui devrait être bien accueilli. Neutre maintenu. PE 23e de 31x - Avec un S1 qui dépasse de 11% les attentes de BPA, de 8% celles de l’EBIT courant, de 4% celles du CA et de 2 points celles de la croissance organique - laquelle gagne en équilibre - l’accueil sera positif surtout pour ceux qui recherchent actuellement des valeurs de qualité qui ont connu un derating et ont sous-performé en YTD. Pourquoi restons-nous à Neutre ? 1/ Nous sommes confiants sur la qu...L'Oreal acts as a holding company. Through its subsidiaries, Co. plays a strategic coordination role and scientific, industrial and marketing coordination role on a global basis. Co. develops, manufactures and commercializes products for Skin care, Hair care, Make-up, Perfumes, Toiletries and deodorants, and Oral cosmetics. Co. has three branches: Cosmetics, Body shop and Dermatology. Co.'s principal activities comprise four divisions: Professional Products, Consumer Products, L'Oreal Luxe and Active Cosmetics. The Body Shop branch offers various cosmetics and toiletry products. The Dermatology branch offers topical dermatology prescription, and corrective and aesthetic dermatology.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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