Why L’Oréal is one of Bank of America’s favorite European stocks
Every week, Le Figaro Patrimoine et Bourse relays confidential information identified in analyst notes to help you in your investment decisions.
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Every week, Le Figaro Patrimoine et Bourse relays confidential information identified in analyst notes to help you in your investment decisions.
And if not content with being the global giant of cosmetics and beauty, L’Oréal was also the locomotive of the sector? In the 1st half, its sales showed adjusted comparable growth of 6.5%, a rate which in the 3rd quarter stood at 7.7%, significantly above a consensus of around only 6%.
The team of Ashley Wallace, head of consumer discretionary stocks at Bank of America, has redone its calculations: at this stage, six beauty stocks representing half of the sales in this stock market sector have published activity points relating to the 3rd quarter. Together and on average, they posted sales growth of 6.5%, an acceleration of 160 basis points compared to the 2nd quarter. “Excluding L’Oréal, this rate drops to 4.6%. Despite its size, the group therefore displays growth 1.7 times higher than that of its listed competitors,” indicates a note. And yet, the basis of comparison was not particularly favorable
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- Le Figaro1 Nov, 11:00
| Publisher Le Figaro (established tier) | +76 |
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