EssilorLuxottica: Stifel raises its target

(CercleFinance.com) - Stifel reiterates its Hold recommendation on the stock and raises its target price to E250 (from E241) following the announcement of the results.


The analyst considers the results for fiscal 2024 to be mixed, with higher sales (+9.2% sales growth at constant exchange rates in Q4 2024, or +5.6% excluding acquisitions) and a lack of profitability.

"The company's aim is to become a central platform for digital eyewear, eventually open to third-party brands and offering customers subscription services (such as AI)" says Stifel.

"Having sold 2 million units since the launch of Ray-Ban Meta on September 23, management is now targeting a production capacity of 10 million units by the end of 2026. Ray-Ban Meta has a dilutive effect on margins, which adds risk to the margin outlook confirmed for 2026' adds the analyst firm.

'We expect a respite after the sharp rise in the share price'.

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