EssilorLuxottica

Analyst updates, 21.11.

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- BERNSTEIN RAISES TARGET FOR NVIDIA TO USD 175 (155) - 'OUTPERFORM' $NVDA (-0.11%)

- JPMORGAN RAISES TARGET FOR NVIDIA TO 170 (155) USD - 'OVERWEIGHT' $NVDA (-0.11%)

- EVERCORE ISI RAISES TARGET FOR NVIDIA TO 190 (189) USD - 'OUTPERFORM' $NVDA (-0.11%)

- JEFFERIES RAISES TARGET FOR SIXT STEMS TO EUR 110 (100) - 'BUY' $SIX2 (-0.43%)

- DEUTSCHE BANK RESEARCH RAISES RHEINMETALL TO 'BUY' (HOLD) - TARGET 700 (550) EUR $RHM (+0.26%)

- BARCLAYS RAISES TARGET FOR FRESENIUS SE TO EUR 40 (38) - 'OVERWEIGHT' $FRE (+0.02%)

- WARBURG RESEARCH raises the target price for ALSTRIA OFFICE from EUR 3.40 to EUR 7.10. Hold. $AOX (+0%)

- BERNSTEIN raises the price target for ESSILORLUXOTTICA from EUR 194 to EUR 200. Market-Perform. $EL (+0%)

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- DEUTSCHE BANK RESEARCH lowers the price target for NESTLE from CHF 87 to CHF 85. Hold. $NESN (+0.15%)

- DEUTSCHE BANK RESEARCH lowers the price target for MEDIOS from EUR 23 to EUR 18. Buy. $ILM1 (-1.34%)

- ODDO BHF lowers the price target for GRENKE from EUR 27.30 to EUR 18.30. Neutral. $GLJ (+0.44%)

- BERNSTEIN lowers the price target for KERING from EUR 260 to EUR 220. Market Perform. $KER (-1.07%)

- BERNSTEIN lowers the price target for LVMH from EUR 795 to EUR 700. Outperform. $MC (-0.33%)

- BERNSTEIN lowers the price target for VESTAS from DKK 250 to DKK 215. Outperform. $VWS (+0.35%)

- JEFFERIES lowers the price target for SMA SOLAR from EUR 19 to EUR 14. Hold. $S92 (-0.69%)

- JEFFERIES lowers the price target for VERBIO from EUR 27 to EUR 22. Buy. $VBK (-0.81%)

- JEFFERIES lowers the price target for PVA TEPLA from EUR 14.50 to EUR 12. Hold. $TPE (+0.27%)

- HSBC downgrades TARGET to Hold. Target price USD 138. $TGT (+0.34%)

- UBS lowers the price target for BAYER from EUR 30 to EUR 22. Neutral. $BAYN (-0.05%)

$RMS (-0.79%) New addition to the depot.

Today I decided to invest in Hermes. The alternative would have been $MC (-0.33%) LVMH, but I don't see a turnaround or a bottom there at the moment, which is why I ultimately chose Hermes. I am convinced by Hermes' fundamentals and the continuous demand in the luxury segment, even in difficult economic times.

Interestingly, Hermes is now my second stock in the luxury segment, alongside $EL (+0%) Luxottica, although I see Luxottica more as a premium brand and less as classic luxury. Nevertheless, I believe that the luxury market will remain robust in the long term and will benefit from global trends such as growing affluence and the pursuit of exclusivity.

What do you think of Essilor Luxoticca ? think it's better than Realty Income .

$$EL (+0%) WKN: 863195

Facebook
$META (+0.07%) has announced a billion-euro investment and stake in the renowned eyewear group EssilorLuxottica $EL (+0%) - Ray-Ban has been explored.

This potential partnership underlines the social media platform's increased commitment to the development of innovative smart glassesto further expand its technology and market leadership - Financial Times.

Disadvantages of day trading with Trade Republic?

Since March I have been trading with my TR and Comdirect accounts on a much larger scale than before. I favor TR because of the clarity of the app and the low costs.

For some positions, I have seen in comparison that I can buy cheaper with Comdirect compared to what TR picks up via the spread.

But in my experience, this is only worthwhile for larger positions. It is also offset by the advantage of TR that you can simply buy parts of shares with X amount.

Yesterday, however, I had my doubts. According to my investment plan, it was time $EL (+0%) to cash out. The timing was good, as the share was finally in the black. However, the app showed me that the share had been suspended from trading at Lang & Schwarz.

Today, of course, the share price is down.

I couldn't find out what the reason for this was. As far as I know, there was no public holiday in France. The annual general meeting was on May 24, days ago. The news shows nothing.

Have I missed something?

And is TR's exclusive relationship with Lang & Schwarz a major disadvantage?

Would appreciate opinions from experienced traders here at Getquin. 🙏

P.S. I don't think it has anything to do with the timing of the dividend payout:

https://www.essilorluxottica.com/en/newsroom/press-releases/2024-annual-shareholders-meeting/

#traderepublic
#tr
#trading
#daytrading
#tageshandel
#langundschwarz
#boerse
#broker
#depot

Here is a summary of important events & the Formatting is Getquin's fault!

US MARKET🇺🇸

Monday

Publication of the Empire State Manufacturing Survey of the New York Fed for April.

Publication of the retail sales in the USA for March.

Publication of the business inventories for February.

Publication of the homebuilder confidence for April.

Speeches by Lorie LoganPresident of the FED of Dallasand Mary C. DalyPresident of the FED Bank of San Francisco.

Quarterly reports from Goldman Sachs ($GS (+0.14%) ), Charles Schwab ($SCHW (+0%) ) and M&T Bank ($MTB (-1.31%) ).

Tuesday

Publication of the building permits for March.

Publication of the industrial production for March.

Quarterly reports from UnitedHealth Group ($UNH (-0.04%) ) , Johnson & Johnson ($JNJ (-0.13%) ), Bank of America ($BAC (+0.03%) ), Morgan Stanley ($MS (+0.13%) ), BNY Mellon ($BK (+0.16%) ) and PNC Bank ($PNC (+0.25%) ).

Wednesday

Publication of the mortgage applications for the week ending April 12.

Publication of the FED Beige Books.

Quarterly reports from United Airlines ($UAL (+0.2%) ), Abbott Laboratories ($ABT (+0.71%) ), U.S. Bancorp ($USB (+0.09%) ), Travelers Cos. ($TRVC34 ), Citizens Financial ($FCNCA (+0%) ), First Horizon ($FHN (+0.52%) ) and Discover Financial Services ($DFS (+0.14%) ).

Thursday

Publication of initial jobless claims for the week ending April 13.

Publication of the Philadelphia Fed Manufacturing Survey for April.

Release of existing home sales for March.

Speeches by John C. WilliamsPresident of the FED of New Yorkand Raphael BosticPresident of the FED of Atlanta.

Quarterly reports from Netflix ($NFLX (+0.22%) ), Intuitive Surgical ($ISRG (+0.02%) ) and Infosys ($INFY ).

Friday

Speech by Austan GoolsbeePresident of the FED of Chicago.

Quarterly reports from Procter & Gamble ($PG (-0.25%) ), American Express ($AXP (+0.39%) ), Fifth Third Bancorp ($FITB (-0.26%) ) and Huntington Bancshares ($HBAN (+0.15%) ).

Saturday

Possible events in connection with the Bitcoin halving.

EU MARKET

Monday

Release of industrial production

Speech by Philip Lane, Member of the Executive Board of the ECB

Quarterly reports from Pagegroup ($PAGE (+0.54%) ) 🇬🇧, Playtech $PTEC (+0.06%) ) 🇬🇧

Tuesday

Trade Balance (Feb)

ZEW Economic Sentiment

Eurogroup Meetings

Publication of the quarterly reports of Ashmore ($ASHM (-0.15%) ) 🇬🇧

Wednesday

Publication of CPI data

EU Summit & Eurogroup Meetings

Speech by Isabel Schnabel, Member of the Executive Board of the ECB

Quarterly figures from Severstal ($CHMF ) 🇷🇺, Volvo B ($VOLV B (+0.3%) ) 🇸🇪, Viscofan $VIS (+0%) ) 🇪🇸, Petershill Partners ($PHLL ) 🇬🇧, Hays ($HAS (+0%) ) 🇬🇧

thursday

Speech by Luis de GuindosVice President of the ECB

EU Summit & Eurogroup Meetings

Speech by Isabel Schnabel, Member of the Executive Board of the ECB

- Quarterly figures from EQT AB ($EQT (+0.29%) ) 🇸🇪, EssilorLuxottica ($EL (+0%) ) 🇫🇷, Nordea Bank ($NDA FI (-0.42%) ) 🇸🇪, Sartorius Stedim ($DIM (-0.25%) ) 🇩🇪, Nokia Oyj $NOKIA (+0.47%) ) 🇫🇮, Inter Cars SA ($n/a) 🇵🇱, Tauron Polska Energia ($TPE (+0.12%) ) 🇵🇱, Forvia ($FRVIA (+0.1%) ) 🇫🇮, Dunelm ($DNLM (-0.72%) ) 🇬🇧, Adtran Networks SE ($ADV (+0%) ) 🇩🇪, Olvi Oyj A ($OLVAS (+0.18%) ) 🇫🇮, Econocom ($ECOM ) 🇧🇪, Talenom Oyj $TNOM (+0.15%) ) 🇫🇮, Alisa Pankki Oyj ($ALISA (+0%) ) 🇫🇮

Friday

Eurogroup Meetings

CFTC EUR speculative net positions

Quarterly figures from Sodexo ($SW (+0.12%) ) 🇫🇷, Linea Directa Aseguradora ($LDA (-0.09%) ) 🇪🇸, Alma Media ($002950 ) 🇫🇮, Gofore ($GOFORE (+0.12%) ) 🇫🇮

Once again a purchase into the donation depot.

For 3 days Switzerland jumped a share of $EL (+0%) out.

My investment case briefly described here:

Essilor is both a customer and a competitor of my employer.

Customer in the ophthalmic sector, i.e. eyeglasses and contact lenses.

Competitor with its subsidiary from my neighborhood in Wetzlar: Satisloh, in the field of precision optics.

Which is also my department.

Briefly to Satisloh: Until 1998 only under the name Loh, then bought by the Swiss company Schweiter Technologies and 2005 renamed in Satisloh.

This was followed in 2008 by the takeover by $EL (+0%)

A nice evening from rainy Central Hesse 🫶

Looking for a global market leader with great growth potential? Here comes EssilorLuxottica! Who please?

EL is the world's number 1 in the eyewear market with a share of around 25 percent. The beauty of the group from Paris is that they cover the entire value chain from design, manufacturing and distribution in their own stores.

Actually only formed in 2018 from the merger of the French Essilor with the Italian eyewear manufacturer Luxottica, there is a fantastic long-term chart (emerging from the French lens specialist), which has "shed" an average of 11% per year over the past 20 years.

Initially after the merger, there were probably disputes at the management level and also subsequently with the large acquisition of GrandVision (NL, including Apollo Optik) problems, in addition, of course, the stores were closed in the pandemic. Also due to newly issued shares in the course of the merger, the price has more or less been treading water for several years.

Why should EL have such great potential?

An eye doctor gave us the idea. To put it simply: every young person today has a cell phone in front of their nose. And while "in the past" you needed your first pair of glasses at the age of 45 (+/-), today you need them much earlier, at the age of 30. Of course, this also means that new glasses are needed more and more often.

Whether this is really true is actually beside the point. There are more and more people and therefore a "company with a moat" like EL is predestined in the long term to increase sales and profits. As the chart shows, they have been demonstrating for some time now.

Otherwise, the long-term numbers (which I have from Luxottica) are nice, but not very meaningful due to the merger and acquisitions. In 2010, revenue/share was €12.59, and €50.95 is expected for 2022. Dividend development is overall very positive (2010 €0.44, 2022e €2.85), but fluctuating and "afflicted" with default in 2019 and French withholding tax in addition.

If you can get over that, EssilorLuxottica is a promising European growth group with a great long-term chart and a current discount of about 20-25% from the high price.

Do you know EL? Are you invested?

Facebook is a really exciting company. On the one hand, the company is already making a lot of money (revenue: $86 billion, profit: $29 billion, FCF: $23.6 billion), but on the other hand, it has big plans for the future, namely the so-called Metaverse. The Metaverse is supposed to be a virtual environment in which you are instead of just looking at it. To get closer to this goal, the next product has already been announced: smart glasses in cooperation with Ray Ban and EssilorLuxottica.

The valuation seems appropriate and fair from our point of view, but not particularly favorable.

https://www.youtube.com/watch?v=V1trSbR44ME