Berenberg lowered the firm’s price target on Procter & Gamble to $157 from $165 and keeps a Hold rating on the shares. The firm’s analysis, segmented by region and category, projects that the global beauty market will growth by 3.7% in 2025, which is below L’Oreal management’s 4.0%-4.5% expectation. Beyond 2025, Berenberg sees risks from new, younger consumers. Beiersdorf remains Berenberg’s top pick in the sector.
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