EssilorLuxottica: 2% loss, broker’s opinion deteriorates

(CercleFinance.com) – EssilorLuxottica lost more than 2% in Paris as Stifel lowered its advice on the share, switching from ‘buy’ to ‘hold’, with a new price target of 142 euros (versus 132 euros previously), which it believes suggests limited upside potential for the Franco-Italian group’s share.

We expect a solid earnings release on March 12, despite the restrictions of Q4 2020, confirming the resilience of the company and driven by the optical business, » the broker said.

According to him, the main catalysts ahead are the acquisition of GrandVision and antitrust remedy discussions with the EU, and the end of the group’s non-optimal dual management structure after the next AGM.

EssilorLuxottica: 2% loss, broker’s opinion deteriorates
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