Essilor: Invest Securities raises its target price.

(CercleFinance.com) - Invest Securities reiterates its "buy" recommendation on Essilor and is raising its target price from 130 euros to 140 euros after the ophthalmic lens maker published its sales yesterday evening, coupled with the upbeat comments from management.


The broker's analysts believe that organic growth should accelerate in the medium term (+4.2%/+5.2% estimated in 2017/18, compared to +3.6% in 2016), and that the group has significant long-term development potential, thanks to a buoyant optical market (4% growth per year).

The analyst monitoring the stock continued, saying that the broker believes that the group's merger with Luxottica, which is set to be finalised in the second half of 2017, will enhance 2019 earnings by approximately +15%.


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