(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion on EssilorLuxottica, the stock retaining ‘solidly double-digit 12-month upside potential’, despite a price target reduced from 196 to 192 euros on a slight lowering of its profit forecasts.
The research department notes that its discount on the stock compared to the sample of values ​​it uses as a reference point ‘has widened sharply since the start of the year, thanks to the surge in values luxury driven by the reopening of China’.
However, he considers that the valuation of the Franco-Italian optical group ‘no longer reflects the investment case of the title, even if the short-term trajectory remains mixed with a volatile macroeconomic climate’.
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