L'Oreal: Downgrade To Hold As Organic Growth Outlook Is No Longer Great

Following my coverage on L’Oreal ( OTCPK:LRLCF ) in early last year, which I recommended a buy rating due to my view that LRLCF fundamentals were largely intact, in that regions outside of China continue to perform well, this postI take a fundamentals-based approach to value investing.I disagree with the common misconception held by many investors that low multiple stocks must be cheap. I look for companies that offer the best long-term durability at the most affordable prices. Consequently, I have a propen ...