Essilorluxottica

EL: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€197.00	Nljzr	Nddcqkdx

EssilorLuxottica Earnings: Solid Revenue, but Shares Look Expensive

Jelena Sokolova

Apr 22, 2024

We are maintaining our fair value estimate of EUR 162 for wide-moat EssilorLuxottica as the company reported solid sales in first-quarter 2024. We believe high exposure to optical products reduces the cyclicality of EssilorLuxottica, but that is well reflected in the share price, which we view as expensive at 28 times forward FactSet consensus earnings.

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