Report
Pierre Tegner

L'Oréal : Preview T1 : croissance organique attendue à 5.9%

>Neutre maintenu - La hausse de 10% du titre depuis la publication des résultats a porté le PE 2019e à plus de 31x. C’est 9x points de PE de plus que la moyenne du Food Beverage HPC européen. Les mêmes causes produisant les mêmes effets, nous restons en Neutre.CA T1 attendu à +8% vs consensus à +9.4% - L’Oréal publie son CA du T1 2019 le 16 avril après bourse avec un conf call à 18h30. Sur le T1, nous anticipons un CA de 7 321 M€ en croissance de 8.0%...
Underlying
L'Oreal SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Pierre Tegner

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