Report
Pierre Tegner

L'Oreal : Q3 and the shortage of profitable growth defensive stocks should continue to underpin a demanding valuation

>Scarcity! - We believe that valuation remains a deterrent in terms of the fundamentals.But the scarcity effect should provide support for the stock. Few values offer a resilient growth profile, are less sensitive to inflation fears (high gross margin and target of consumers with strong purchasing power), have a surplus net surplus cash situation that is favourable in the event of a hike in interest rates, benefit from the premiumisation trend without being expos...
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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