Essilor: Credit Suisse initiates with buy; target 127 euros.

(CercleFinance.com) - As part of a report on the optical sector, Credit Suisse has initiated its coverage of the Essilor International share with an outperform rating, along with a target price of 127 euros.


For the past month, the Essilor and Luxottica shares have been pretty flat, after losing some of their gains from their announced merger in January. "But recent share price weakness provides an attractive entry point into these names, in our view." says a research note.

Credit Suisse expects the new EssilorLuxottica "to grow faster than the market, with greater margin accretion than the two companies would generate separately."

Credit Suisse is also adopting an outperform rating on Luxottica, the Italian eyewear maker, with which Essilor intends to merge this year. It has a target price of 58 euros for this stock.


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