L’Oreal price target raised to EUR 362 from EUR 355 at Jefferies

Jefferies raised the firm’s price target on L’Oreal to EUR 362 from EUR 355 and keeps an Underperform rating on the shares. L’Oreal reported a “strong” Q1 with Europe in stronger than expected, North America better than feared, and “continued disappointment” from North Asia, the analyst tells investors. However, there is “essentially no dispute that beauty market growth is set to slow in FY24” and the risk remains to the downside as market growth normalizes, the analyst added.