L'ORÉAL : Stifel reduces its price target
The analyst says it is revising its EBIT forecasts for fiscal 2024-2025 downwards, by 0.5% and 1% respectively, due to weaker organic growth forecasts for the Luxury division and the North Asia region.
The broker points out that L'Oréal faces significant short-term headwinds in its Chinese ecosystem in the second half of 2024.
' However, we expect solid growth in Europe, double-digit growth in emerging markets, as well as widespread market share gains that will enable the group to post respectable organic growth of +6% with solid margin expansion', concludes the analyst firm.
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