Report
Pierre Tegner

L'Oreal : Not that easy to find a successor to JP Agon

>Core holding company status - Neutral rating maintained. The 2021e P/E of close to 37x reflects the core holding company status of a group whose degree of strategic concentration (1 battle) and operational diversification (all possible weapons to fight this battle with a balanced risk profile) support investors’ belief that L’Oréal is probably one of the Food HPC stocks, in both Europe and the US, that is best placed to regularly generate EPS growth of 7% per year (i...
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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