EssilorLuxottica : Promising growth prospects, investment case strengthened
>An investment case that is significantly strengthened, target price raised to €225 - We take the opportunity of the feedback from our quarter-end company contact to revisit by ourselves the investment case in a more favourable way and have, as a result, raised our target price from € 204 to € 225 (Outperform rating reiterated). We think that the group's structural growth outlook is becoming more favourable as a result of the active management of the product portfolio...Essilor International (Compagnie Generale d'Optique) designs, manufactures and sells ophthalmic lenses, ophthalmic optical instruments and equipment. Co.'s activities are divided into three segments: Lenses and Optical Instruments (Co. designs, manufactures and customizes corrective lenses such as: Varilux (progressive lenses); anti-reflective, smudge-proof and anti-static lenses (Crizal); Nikon lenses, Transitions variable-tint lenses and Kodak lenses under agreements; polarized lenses (Xperio) and fog-proof lenses (Optifog)), Equipment (Co. produces, distributes and sells equipment and consumables used by prescription laboratories) and Readers (Co. designs and sells reading glasses).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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