L'Oreal Set for Slower Second Half -- Market Talk

Dow Jones06-23

0726 GMT - L'Oreal is likely to book slower sales growth in the latter half of the year, Deutsche Bank warns, cutting its rating on the French beauty giant's stock to sell from hold. The group got off to a strong start to the year, and high inventory levels should boost the second quarter too, Deutsche's Tom Sykes writes in a note. But weak Chinese credit data, more shopping events in the first half and tougher comparison bases will put the brakes on growth over the second half, Sykes says. "We also note the very high growth in China beauty exports to the US, suggesting higher small-peer competition." Deutsche cuts its target price on the stock to 340 euros from 360 euros; shares open 2.2% lower at 369.70 euros. (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

June 23, 2026 03:26 ET (07:26 GMT)

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But weak Chinese credit data, more shopping events in the first half and tougher comparison bases will put the brakes on growth over the second half, Sykes says. \"We also note the very high growth in China beauty exports to the US, suggesting higher small-peer competition.\" Deutsche cuts its target price on the stock to 340 euros from 360 euros; shares open 2.2% lower at 369.70 euros. 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