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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