EssilorLuxottica shares fell nearly 4% on Wednesday. Deutsche Bank issued a cautious outlook for the company's second-quarter performance.
The bank maintained a Hold rating on the stock. Analysts lowered the price target to €181 from €183.
Deutsche Bank expects flattish adjusted operating profit for the second quarter. Significant foreign exchange headwinds will likely offset strong sales growth.
Consensus earnings estimates may require downward revisions. The company faces more difficult year-over-year comparisons in the second half of the year.
The report follows EssilorLuxottica’s announcement of new AI-powered smart glasses with Meta Platforms. Investors prioritized the bank's financial warnings over the product news.