L’Oreal downgraded to Market Perform from Outperform at Bernstein

Bernstein analyst Callum Elliott downgraded L’Oreal (LRLCY) to Market Perform from Outperform with a price target of EUR 380, down from EUR 430. The firm has a more constructive long-term view on the European food and personal care sector. Industry growth is slowing, and so is global economic growth. but the “share losses of the pre-pandemic decade need not be structural,” the analyst tells investors in a research note.