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Investing.com - Goldman Sachs raised its price target on EssilorLuxottica SA (EPA:EL) (OTC:ESLOY) to €305.00 from €277.00 on Monday, while maintaining a Buy rating on the eyewear giant. The company, currently valued at $148 billion, has seen its stock surge 35% year-to-date, trading near its 52-week high of $162.20.
The revision follows EssilorLuxottica’s September 18 announcement of new products in its wearables segment, including the Ray-Ban Meta Gen 2 smart glasses. Goldman Sachs highlighted three key positives from the product lineup, including improved functionality in the Ray-Ban Meta Gen 2 with better battery life and camera features, driving a positive price mix of $379 compared to $299 for the first generation. According to InvestingPro, the company maintains strong financial health with a GOOD overall score, supporting its ambitious product expansion strategy.
The firm also noted the expansion of the Oakley Meta offering with the introduction of "Vanguard" and Athletic Intelligence features, which Goldman believes will attract new users and encourage multiple pair purchases. Additionally, the launch of Meta Ray-Ban Display with integrated display technology priced at $799 represents a new product category for the company.
Based on these developments, Goldman Sachs revised its wearables forecasts for EssilorLuxottica, now projecting 20 million annual units by 2030, up from its previous estimate of 18 million units. With revenue growth of 5.45% and a P/E ratio of 53.13, the company trades at premium valuations, reflecting market confidence in its growth trajectory. For deeper insights into EssilorLuxottica’s valuation metrics and growth potential, check out InvestingPro, which offers 12 additional investment tips for this stock.
The firm updated its forecasts ahead of EssilorLuxottica’s third-quarter 2025 revenue report scheduled for October 16, noting it expects results 2.5% below consensus forecasts, primarily due to foreign exchange factors. Analyst targets currently suggest an 11% potential upside from current levels, though InvestingPro’s Fair Value analysis indicates the stock may be overvalued at current prices.
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