UBS has reaffirmed its 'buy' recommendation on EssilorLuxottica, while raising its target price from €173 to €210, a new target that offers a 21% upside potential for the Franco-Italian optics group.

Solid execution in a more complex macroeconomic context could justify a return to a higher valuation premium", believes the broker, who also remains "confident and above consensus in terms of sales and margins".

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