ESSILORLUXOTTICA : UBS remains Buy after quarterly results
UBS believes that a promising start to the quarter could support the share price. The analyst confirms his Buy recommendation with an unchanged price target of 232 E.
'Investors may find fourth-quarter forecasts reassuring, given the challenging environment' says UBS.
'Third-quarter figures will raise questions about margin expansion in the second half of 2024'.
"Total group sales in Q3, at 6,437 million euros, were -2% below expectations (-3% vs. UBSe forecast), with growth at constant exchange rates of +4.0% in Q3 (consensus forecast +5.9%, UBSe forecast +6.1%)' adds UBS.
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