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As noted by Berenberg (Berenberg Bank, the oldest bank in Germany, founded in 1590.), L'Oreal (L'Oréal (pronounced Loreal)) is a French company, the leader of the world market of perfumery and cosmetics.) has "little growth potential" in the absence of cash investments, in addition to investing in new acquisitions. According to the bank, these acquisitions help support the increase in L'Oreal's valuation compared to similar companies. Analysts of the bank do not see a significant growth potential in the medium term, given L'Oreal's assessment, marginal growth below the sector average and a limited opportunity for large cash investments. "However, we are aware that the company's valuation will continue to receive support from attractive strong organic growth," analysts added. Bank Berenberg raised the target price of shares of the company L'Oreal from 179 euros to 181 euros per share.