EssilorLuxottica: Stifel raises TP

(CercleFinance.com) - Stifel maintains its Hold recommendation on the stock, while raising its target price for it to E250 (from E241), after the group announced its results.


The analyst considers its FY 2024 results as 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 is aiming to become a central platform for digital eyewear, eventually open to third-party brands and offering customers subscription services (such as AI), Stifel says.

Having sold 2 million units since the launch of Ray-Ban Meta on 23 September, 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, the broker adds.

We expect a respite after the sharp rise in the share price, it concludes.


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