EssilorLuxottica: Stifel confirms buy rating
(CercleFinance.com) - Stifel maintains its Buy recommendation on EssilorLuxottica shares, with an unchanged target price of E210.
Although "EssiLux" is not immune to the ups and downs of the global macro-economic environment, Stifel believes that the company should have limited the damage - the first signs of this are expected on 19 October, the day it announces its Q3 sales.
After +8% in Q2, Stifel expects organic growth of 4.8% in Q3 (consensus = +5.4%).
The analyst cites moderate growth in North America (+1% in Q3, after +2% in Q2) and more dynamic activity expected in Europe (+8.5%), Latin America (+12%) and Asia-Pacific (+5%).
"We believe mix remained solid, driven by recent launches (Varilux XR, Ray-ban Reverse...) likely adding to ongoing strength of Stellest lens (myopia management) in China", the broker concludes, which adds that Ray-Ban Meta lenses are expected to hit shelves in mid-October.
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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.
Although "EssiLux" is not immune to the ups and downs of the global macro-economic environment, Stifel believes that the company should have limited the damage - the first signs of this are expected on 19 October, the day it announces its Q3 sales.
After +8% in Q2, Stifel expects organic growth of 4.8% in Q3 (consensus = +5.4%).
The analyst cites moderate growth in North America (+1% in Q3, after +2% in Q2) and more dynamic activity expected in Europe (+8.5%), Latin America (+12%) and Asia-Pacific (+5%).
"We believe mix remained solid, driven by recent launches (Varilux XR, Ray-ban Reverse...) likely adding to ongoing strength of Stellest lens (myopia management) in China", the broker concludes, which adds that Ray-Ban Meta lenses are expected to hit shelves in mid-October.
Copyright (c) 2023 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.