1306 GMT - L'Oreal has a growth opportunity in India, Barclays analysts write in a research note. The country likely has a multidecade high-teens growth runway for the company, the analysts say. India currently represents around 2% of the French beauty group's sales, but could move the needle in coming years, they say. India was break-even for L'Oreal in 2011 and profitability has improved steadily over the past 10-15 years. "We get a sense that in India, L'Oréal has waited for development to reach the stage where the market is ready for growth, rather than hugely overinvesting to accelerate this process," Barclays says. The company is targeting 17% compound annual growth rate in India out to 2030. Shares are up 1.3% at 347.95 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 08:06 ET (13:06 GMT)
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