Jefferies and Oddo upgraded their rating of LRLCY stock due to increased stabilization in mature markets as well as increased prospects of expansion of the YSL Beauty brand.
The company has suffered from dollar weakness earlier this year. However, the dollar is currently gaining strength against the euro, which will have a positive effect on L'Oreal's earnings.
L'Oreal revenue grew 5.1% y-o-y which was below analyst estimates. L'Oreal blamed a tough North American market due to the economic slowdown in the US.