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EssilorLuxottica: UBS still on hold

( - The analyst believes that Q1 sales growth is broadly in line with expectations, with currencies and North America likely to be the focus of concern.

UBS reiterates its neutral recommendation on the stock, with a target price of E181, representing 12% downside potential.

The group's total Q1 sales of E6,335m came in 1% below consensus (in line with the UBS estimate), with Q1 growth of +5.5% (vs. +5.8% for consensus and +5.5% for UBSe). Professional Solutions Q1 sales rose 4.6% (vs. +5.6%), according to UBS.

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