Essilorluxottica

EL: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€325.00	Gtw	Yzfwtvv

EssilorLuxottica Earnings: Asia-Pacific Helps Focus on a Strong Start to 2023, but Shares Still Rich

Jelena Sokolova

Apr 21, 2023

We are maintaining our fair value estimate of EUR 155 for wide-moat EssilorLuxottica following a strong first quarter with total revenue up 8.6% over the first quarter of 2022 at constant exchange rates. Both professional solutions and direct to consumer had strong year-over-year growth, with 7.7% and 9.4% at constant exchange rates, respectively. We currently view shares as overvalued.

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