L'Oreal : EPS expected at -15% in H1. The stock is very expensive but remains supported by its dual consumer/luxury profile
>The keys to stock market success: consumer - luxury - e-commerce - skin care - Neutral rating maintained. Ahead of the publication in H1 (30 July after market), our forecast for 2021 EPS has been revised down by -2%. That said, we have made a significant upward revision to our target price to € 284 (vs € 234). It should be remembered that since the beginning of Q2, 12-mth fwd P/E (FactSet consensus) for both the Stoxx 600 and LVHM is up by, respectively, 19x and 32x....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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