EssilorLuxottica Stock: Confirmation of a Rebound After a 18% Drop in Spring
The Franco-Italian optical giant continues its recovery in mid-session, within a slightly positive CAC 40. The stock has moved back above a short-term technical benchmark and benefits from a coverage revision by a broker. However, the underlying bearish trend remains significant, following a challenging spring.
Rothschild & Co Redburn Confirms Buy Rating but Lowers Target on EssilorLuxottica
The stock is among the top gainers in the CAC 40 during the session, as the index rises by 0.19%. Rothschild & Co Redburn has reduced its price target on EssilorLuxottica from €310 to €260, while maintaining its buy recommendation, according to a revision dated June 3. Based on the current price of €178.75, the new target still offers a theoretical potential of about 45%. Beyond this coverage adjustment, the recent corporate agenda remains busy: on June 1, the group noted a capital increase related to the payment of the 2025 dividend in shares, with 957,954 new shares issued.
The Stock Moves Above the MM20 but Remains Significantly Detached from Its MM200
At €178.75, the price is now above the 20-day moving average (€172.91), with a gap of 3.4% indicating a short-term recovery. However, the MM50 (€185.06) remains above the price, at a 3.4% distance, and the MM200 (€249.52) is still 28% above, a legacy of a nearly 18.5% drop over three months and more than 26% over a year. The RSI at 49 indicates a dynamic that has returned to neutral, after hitting multi-year lows around €162.50 in mid-May. The technical support identified at €165.45 did not hold during the most recent trough (around €162.50), while the resistance at €191.80 remains the next threshold to cross for a more lasting reversal.
