L'Oreal : Quality results but a sharp slowdown in Q4 organic growth
>The year-end may not be welcomed - Neutral rating maintained with a target price of € 387. L’Oréal remains a quality stock, for which the profitable growth model is the most developed and resilient in the Food Beverage HPC sector, for both Europe and even the US. This is the reason for the PER expansion (35x 2024e) in a global context of a sector de-rating alongside a shortage in quality stocks for which the short- and long-term momentum raised no questions for inve...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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