EssilorLuxottica: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on EssilorLuxottica shares, with a target price raised from E220 to E235, to reflect the higher value of growth opportunities and the inclusion of recently announced acquisitions.
The broker says that it expects nothing new in the near term, only trimming 2024 forecasts slightly (-1%), reflecting currency trends.
We don't expect any significant change in trend for Q3 in terms of sales growth y/y cc after a Q2 of 5.2%, and our expectations in this area remain limited (growth expected to be close to 5% for the quarter), says the analyst.
The share's recent performance may be a drag in the near term, although we remain confident over the medium term, the broker concludes.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker says that it expects nothing new in the near term, only trimming 2024 forecasts slightly (-1%), reflecting currency trends.
We don't expect any significant change in trend for Q3 in terms of sales growth y/y cc after a Q2 of 5.2%, and our expectations in this area remain limited (growth expected to be close to 5% for the quarter), says the analyst.
The share's recent performance may be a drag in the near term, although we remain confident over the medium term, the broker concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.