EssilorLuxottica: Oddo raises target price
(CercleFinance.com) - Oddo believes that the recovery in revenues and margin was confirmed in Q4, despite obstacles in the way.
The broker is thus raising its 2020 revenue and EBIT forecasts for EssilorLuxottica by 1% and 2% respectively.
However, it is more "cautious" about Q1 2021, lowering its 2021 and 2022 estimates for EBIT by 2% and 1% respectively.
Analysts say that EssilorLuxottica seems to be back on track for the end of 2020 and, while it should still be affected by the pandemic at the beginning of 2021, it is still able to deliver a visible increase in profitability by returning to a normal growth profile of around 5% per year.
In this context, the analyst maintains an outperform rating on the stock, raising his corresponding target price to 153 euros, compared to 138 euros previously.
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.
The broker is thus raising its 2020 revenue and EBIT forecasts for EssilorLuxottica by 1% and 2% respectively.
However, it is more "cautious" about Q1 2021, lowering its 2021 and 2022 estimates for EBIT by 2% and 1% respectively.
Analysts say that EssilorLuxottica seems to be back on track for the end of 2020 and, while it should still be affected by the pandemic at the beginning of 2021, it is still able to deliver a visible increase in profitability by returning to a normal growth profile of around 5% per year.
In this context, the analyst maintains an outperform rating on the stock, raising his corresponding target price to 153 euros, compared to 138 euros previously.
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.