EssilorLuxottica: UBS cuts target price
(CercleFinance.com) - UBS maitnains its neutral rating on the EssilorLuxottica share, although has reduced its target price for it to E176 (from E179) following the announcement of Q3 2023 figures.
After this publication, the analyst considers that visibility is limited for the end of the year.
"No surprises on Q3 topline, but H2 margin remains a key question mark. We reduce EPS by 1%", UBS says.
"Q3 group total sales of EUR6,294m were -1% below of cons and UBSe, with Q3 c.FX growth of +5.2% (cons +5.3%, UBSe +5.4%)", the broker adds.
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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.
After this publication, the analyst considers that visibility is limited for the end of the year.
"No surprises on Q3 topline, but H2 margin remains a key question mark. We reduce EPS by 1%", UBS says.
"Q3 group total sales of EUR6,294m were -1% below of cons and UBSe, with Q3 c.FX growth of +5.2% (cons +5.3%, UBSe +5.4%)", the broker adds.
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.