L’Oreal (OTCMKTS: LRLCY) Makeup Revenues rose from $9.3 billion in 2020 to about $10 billion in 2021. Trefis expects the metric to rise further to levels of around $13 billion by 2023.
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We expect makeup sales to rise given strong consumer spending trends and also due to the fact that people are stepping out more often following the Covid-19 lockdowns.
We think L’Oreal stock is undervalued at current levels. We value L’Oreal at $98 per share, about 20% ahead of the current market price.
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