L'Oréal: Still room for growth in Western Europe and in France!
BUY, Fair Value EUR147 (+16%)
L'Oreal is currently hosting its Capital Market Days focused on Research & Innovation, the Western Europe market including France. Despite already significant positions, there is clearly room for potential growth and improvement mainly in Europe excluding France but also in France on some segments. We remain Buyers on the stock with an unchanged FV of EUR147.
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