EssilorLuxottica: Deutsche Bank says 'as expected'
(CercleFinance.com) - Deutsche Bank has confirmed its "hold" rating on the EssilorLuxottica share, the day after the optical giant's first investor day since its merger.
The broker maintains its target price at 138 euros.
Analysts point out that at the meeting, the group confirmed its targets for synergies (from 420 million to 600 million euros on operating profit by 2023) stemming from the merger between Essilor and Luxottica, and provided details about the strategy currently in place.
"However, the CMD, which looked almost unlikely to happen only a few months ago, represents a significant milestone on the path of creating a unified company," Deutsche Bank says.
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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.
The broker maintains its target price at 138 euros.
Analysts point out that at the meeting, the group confirmed its targets for synergies (from 420 million to 600 million euros on operating profit by 2023) stemming from the merger between Essilor and Luxottica, and provided details about the strategy currently in place.
"However, the CMD, which looked almost unlikely to happen only a few months ago, represents a significant milestone on the path of creating a unified company," Deutsche Bank says.
Copyright (c) 2019 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.