EssilorLuxottica: Oddo BHF still a buyer
(CercleFinance.com) - Oddo BHF reinstates its "buy" recommendation on the EssilorLuxottica share, along with its target price of 138 euros, explaining that it is expecting a persistent rerating on the share, which will regain a privileged status over time.
The broker points out that the optical group's message is in line with its expectations, with the three major divisions seeing a clear improvement in the third quarter.
Oddo BHF says that it is trimming its forecasts for the Franco-Italian group, due to FX factors, although now expects a lower decline in Q3 (-3.0%, vs. -4.9% previously).
Copyright (c) 2020 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.
The broker points out that the optical group's message is in line with its expectations, with the three major divisions seeing a clear improvement in the third quarter.
Oddo BHF says that it is trimming its forecasts for the Franco-Italian group, due to FX factors, although now expects a lower decline in Q3 (-3.0%, vs. -4.9% previously).
Copyright (c) 2020 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.