EssilorLuxottica stock, worst performer on CAC 40, falls 3.5% after +13% in one week
EssilorLuxottica is taking a breather and finishing at the bottom of the Paris index, while the French benchmark advances significantly. The stock has just achieved a sharp rebound, driven by the publication of its quarterly sales and an upgraded credit rating.
Profit-taking that leaves the stock below its 200-day average
EssilorLuxottica stock loses 3.42% to €175, the biggest decline in the CAC 40, which gains 0.83% at close. After a gain of 13.34% over the week, the decline brings the stock below the €181.20 resistance level, the level of the last close. It remains 14.3% above its 20-day moving average at €153.05, but 6.07% below its 200-day moving average at €186.31, while the RSI at 69 leaves the value close to the overbought zone. Over one year, the stock is still down 44.16%, and it had touched its lowest level since 2022 in late September.
Q3 up 7.2%, rating upgraded to A+ and price target maintained at €210
The rebound of recent weeks is supported by third-quarter sales, published on October 20: €7,486 million, up 7.2% at constant exchange rates, driven by direct-to-consumer sales (+10.6% in Q3). Myopia management solutions gained 24% over nine months. S&P Global Ratings upgraded the group's long-term credit rating to A+ on October 23, with a stable outlook.
CIC Market Solutions reiterates its buy rating today with a price target of €210, or 20% above the current price. The final word goes to the trend: +21.61% over one month, but still far from levels a year ago.
