EssilorLuxottica down after Deutsche Bank cuts PT and expects 'flattish' Q2 earnings

EssilorLuxottica SA

Today 10:26

** Shares of eyewear giant EssilorLuxottica ESLX.PA down ~3% 
** Deutsche Bank says it expects "flattish" quarterly earnings and significant foreign exchange headwinds offsetting top-line growth
** "We maintain our cautious stance on the investment case," - Deutsche Bank 
** Maintains a "hold" rating on the shares; Cuts target price by 1.1% to €181 ($205.5)
** Brokerage expects Q2 constant currency sales at ESLX to grow by 9.5%, before a much more demanding second half of the year
** Including Wednesday's fall, stock down 39.5% YTD


($1 = 0.8808 euros)

 (Reporting by Gianluca Lo Nostro)
 ((gianluca.lonostro@thomsonreuters.com))