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LVMH report shows soft environment for L’Oreal, says Jefferies

Jefferies says the readthrough from LVMH’s (LVMUY) first half of 2025 results on L’Oreal (LRLCY) is a softer environment for beauty, both in perfume and cosmetics as well as selective retailing. The firm keeps an Underperform rating on L’Oreal with an EUR 362 price target.

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