EssilorLuxottica's consolidated sales for the third quarter of 2024 were 6,437 million euros, which fell 2% short of expectations and 3% below UBS's forecast.

Despite this, UBS maintains a Buy rating on the stock with a price target of 232 euros, citing a strong start to the quarter that could boost the share price.

The analyst notes that growth at constant exchange rates was recorded at 4.0%, which was lower than consensus and UBS forecasts of 5.9% and 6.1% respectively.

UBS suggests that investors may find reassurance in the fourth-quarter forecasts, even in a challenging market environment. However, the third-quarter results have raised concerns about margin expansion for the latter half of 2024.