EssilorLuxottica stock surpasses 177 € and rebounds 20% in one week
EssilorLuxottica extends its recovery this Friday, in a declining Paris market. The stock ranks among the best-performing values in the index, following two analyst target revisions in opposite directions.
A rebound that brings the stock closer to its 200-day moving average
The EssilorLuxottica stock gains 0.87% to 178.70 €, while the CAC 40 falls 0.78%. It has broken above its resistance level at 177.15 € during the session, a level that now serves as support. The stock is up 20.17% over seven days and 23.67% over one month, a rebound that brings it to 4.35% below its 200-day moving average, situated at 186.82 €.
Over one year, the value remains down 42.61%. This movement follows third-quarter results, released on October 20. Quarterly revenue comes in at 7,486 million euros, up 7.2% at constant exchange rates, driven by direct-to-consumer sales, which grew 10.6% in the third quarter. Myopia management solutions gained 24% over the first nine months.
Two opposing analyst opinions following earnings
Two brokerage firms revised their positions yesterday, in opposite directions. Deutsche Bank raised its price target from 157 € to 197 € and upgraded from hold to buy, representing 10.2% upside potential compared to the current price. Jefferies, conversely, lowered its target from 250 € to 225 €, a level that still stands nearly 26% above the current price.
On the technical side, the RSI at 77 signals an overbought configuration following the week's gains. The next reference point is the 200-day moving average, at 186.82 €.
