Oddo BHF maintains its 'outperform' rating on EssilorLuxottica shares, with a price target raised from 204 to 225 euros, as it wishes to 'revisit the investment case in a more favorable direction'.

According to the analyst, the Group's structural growth outlook is becoming more favorable thanks to dynamic management of the product portfolio and the creation of development opportunities in adjacent segments.

Oddo BHF points out that the price increases planned for 2024 to better offset inflation will take place gradually over the year.

We are slightly adjusting our Q1 sales forecast to 6346 ME, i.e. +3.1% y/y and +4.7% cc (vs. +4.6% and +5.2% previously), but are keeping our full-year forecasts virtually unchanged", concludes the broker.


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