EssilorLuxottica Shares Dip 1.7% at Close After Strong Gains
EssilorLuxottica's stock closed at 272.50 euros this Wednesday, January 7, marking a 1.7% decrease from the previous day's close of 277.20 euros, following a surge of over 5% due to Meta's announcement of delaying the international rollout of Ray-Ban Display smart glasses.
Market Reaction to Meta's Announcement
EssilorLuxottica's shares closed at 272.50 euros on Wednesday, January 7, down by 1.7% compared to the previous day's 277.20 euros, after jumping more than 5% the day before, fueled by Meta's announcement to postpone the international launch of its Ray-Ban Display smart glasses. Indeed, Meta decided to suspend its planned launch in France, Italy, the United Kingdom, and Canada in early 2026 due to exceptional demand in the United States and limited stock. The trading volume was 0.14% of the capital. The stock fluctuated between 272.90 and 278.70 euros during the session. Technically, the RSI of 44 indicates that the stock is neither in an overbought nor oversold zone, while it still trades significantly below its 50-day moving average of 298.93 euros, indicating a still tentative short-term trend.
Analysts Maintain Positive Outlook
Analysts continue to hold positive recommendations. UBS maintains a buy rating with a target price of 352 euros, representing an upside potential of nearly 29% compared to the closing price. BNP Paribas Exane and Goldman Sachs have target prices of 365 and 350 euros, respectively. The Bollinger Bands, ranging from 257.23 to 298.81 euros, indicate that the stock is trading in the lower part of its channel, suggesting a technical upside potential. Furthermore, the stock has shown an annual performance of 16.95%, despite a 1.3% decline over three months. The recent renewal of the licensing agreement with Burberry until 2035 and the commercial success of the connected glasses co-developed with Meta are seen as medium-term catalysts for the group.
