Beauty Stock Bonanza: L'Oréal Foresees A $427 Billion Market By 2030 — Here Are The Stocks That Could Benefit
Portfolio Pulse from Nabaparna Bhattacharya
L'Oréal Co. (OTC:LRLCF) (OTC:LRLCY) is undergoing significant transformations under its CEO, Nicholas Hieronimus, who projects the beauty market to reach $426.8 billion by 2030. The company is integrating advanced technology and investing over $1 billion annually in beauty tech. L'Oréal is also committed to sustainability and plans to use 100% recycled plastic by 2030. Other beauty stocks with upward potential include Coty Inc. (NYSE:COTY), Ulta Beauty, Inc. (NASDAQ:ULTA), and Inter Parfums Inc (NASDAQ:IPAR).
September 23, 2023 | 8:20 pm
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POSITIVE IMPACT
Coty has confidently amped up its FY24 forecasts following successful product releases.
Coty's successful product releases and increased FY24 forecasts indicate strong performance, which could positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
IPAR reported a 2Q23 sales increase of 26% and raised its 2023 sales guidance.
IPAR's strong 2Q23 performance and increased 2023 guidance indicate strong performance, which could positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
L'Oréal is undergoing significant transformations and investing heavily in technology and sustainability, which could drive its stock price.
L'Oréal's heavy investment in technology and sustainability, along with the projected growth of the beauty market, could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ulta raised its full-year 2023 revenue and earnings guidance following a strong Q2 performance.
Ulta's strong Q2 performance and increased 2023 guidance indicate strong performance, which could positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80