(CercleFinance.com) – Stifel maintains its Buy recommendation and its price target of 205E on the EssilorLuxxotica share.
“In this challenging environment, we continue to view EssilorLuxottica as a relatively safe haven, thanks to its strong prescription hardware (75% of sales) and self-help drivers such as supply chain and integration of GrandVision’, points out Stifel
Since the last analyst day organized three years ago, Stifel notes that the governance of the company has improved and the acquisition of GrandVision, announced during the summer of 2019, has been finalized.
Nevertheless, ‘EssilorLuxottica’s management has still not provided a clear roadmap’, believes Stifel, who doubts that the management precisely quantifies all the current and potential synergies ‘in a year of high macro and geopolitical uncertainties’ .
But the analyst hopes for ‘greater granularity in understanding the company’s main challenges and opportunities’.
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