L'Oréal gains more than 1% to outperform a slightly lower CAC40, on the back of favorable comments from Stifel, which reaffirms its 'buy' recommendation on the world's number one cosmetics company, with a price target raised from 450 to 490 euros.

Gross margin expansion provides fuel for reinvestment and operating margin expansion", said the broker, who lowered his 2024-25 estimates for L'Oréal by 1%, due solely to negative currency effects.

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