Essilorluxottica
EL: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€841.00 | Wgm | Gfydczgm |
EssilorLuxottica Earnings: Asia-Pacific Helps Focus on a Strong Start to 2023, but Shares Still Rich
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.