UBS raises its recommendation on EssilorLuxottica from 'neutral' to 'buy', with a price target raised from €181 to €232, a new target that implies 15% upside potential for the Franco-Italian optical giant's stock.

"The acceleration in sales growth, the easing of pressure on margins and EssilorLuxottica's defensive nature make us more positive for the second half of 2024 and beyond", explains the broker in the summary of its note.

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