EssilorLuxottica: Oddo raises target price
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on EssilorLuxottica shares and has raised its target price for them from 179 euros to 186 euros, believing that the Franco-Italian optical group's outlook remains favourable in the near term.
While it recognises that the stock has already performed remarkably well over 2021, the broker points out that its Q4 has started well and believes that the start of 2022 could benefit from favourable comparables.
In addition, the group will now be able to embark on the integration of GrandVision, it adds, specifying that its assumptions concerning GV are not overly optimistic and could be raised.
Copyright (c) 2021 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.