EssilorLuxottica: Oddo still a buyer
(CercleFinance.com) - Oddo maintains its Outperform rating on EssilorLuxottica shares with a target price of 183 euros.
The analyst expresses no major concerns about the group or its business plan at this stage, for whom the group has actually emerged strengthened from the COVID sequence with a stabilised organisation, a rather convincing recent trajectory and clear targets for 2021-2026.
Oddo notes two sources of differentiation and outperformance: developing new offers and faster growth in Asia and Latin America.
The analyst points out that there are still a number of questions that need to be answered at the analyst day on Wednesday 14 September: The leap in profitability that the group is aiming for is significant and this is probably the area where the most detail is expected.
Nevertheless, Oddo believes that the group's medium-term trajectory is favourable, with average annual growth of between 7% and 10% in adjusted EBIT.
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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 analyst expresses no major concerns about the group or its business plan at this stage, for whom the group has actually emerged strengthened from the COVID sequence with a stabilised organisation, a rather convincing recent trajectory and clear targets for 2021-2026.
Oddo notes two sources of differentiation and outperformance: developing new offers and faster growth in Asia and Latin America.
The analyst points out that there are still a number of questions that need to be answered at the analyst day on Wednesday 14 September: The leap in profitability that the group is aiming for is significant and this is probably the area where the most detail is expected.
Nevertheless, Oddo believes that the group's medium-term trajectory is favourable, with average annual growth of between 7% and 10% in adjusted EBIT.
Copyright (c) 2022 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.