EssilorLuxottica Shares Bounce Back 3% and Reclaim a Key Technical Threshold
The Franco-Italian optical giant marked a significant rebound this Friday noon, amidst a notably bullish CAC 40. The session extends the recovery that began at the end of May, after a harsh spring that had brought the stock down to its multi-year lows. Oddo BHF has lowered its price target, without changing its positive opinion.
The Stock Breaks Its Resistance at €181.25 and Moves Above Its 50-Day Moving Average
EssilorLuxottica shares gained 3.02% to €184.15 during the session, while the CAC 40 advanced 1.84%. The stock thus surpassed the resistance identified at €181.25 and approached its 50-day moving average (€183.26), a benchmark it had not reclaimed for several weeks. The RSI at 53 remains in a neutral zone, leaving room before reaching an overbought configuration.
The 200-day moving average remains distant at €247.22, more than 25% above the current price, indicating the magnitude of the decline still to be erased in the long term. Over the month, the stock has recovered 10.3%, which partially mitigates the 12.3% decline recorded over three months. Today's rebound is part of a generally bullish session for the CAC 40, where the stock is positioned in the top half of the index.
Oddo BHF Lowers Its Price Target from €251 to €220, While Maintaining a Positive Outlook
Oddo BHF revised its price target for EssilorLuxottica this Friday, lowering it from €251 to €220. However, the brokerage firm maintains its 'outperform' rating. Based on the current price of €184.15, the new target offers a theoretical potential of about 19%. This revision follows several adjustments of coverage mentioned in recent sessions following the spring decline.
Operationally, the group noted on June 1st the capital increase linked to the payment of the 2025 dividend in shares, with 957,954 new shares issued. The macroeconomic context remains a point of attention: the ECB raised its rates by 25 basis points this Friday, the first increase since September 2023, in an environment where inflation has returned above the target. It is important to monitor the behavior of the stock around the 50-day moving average at €183.26, whose sustained reconquest would condition the extension of the rebound initiated at the end of May.
