1621 GMT - EssilorLuxottica's reliance on the U.S. market exposes it to potential import tariffs, UBS analysts say in a note. Around 43% of sales of the Franco-Italian eyewear giant come from the U.S., with the majority of the product imported, they say. UBS assumes 18% of sourcing from China, and 2% from Mexico. The potential 25% tariff on Mexico imports is bad news, as the company just opened a large production site in the country to service the U.S. market, they say. The eyewear market meanwhile is growing due to an increasing population, ageing demographics and increased screen time, they say. UBS downgrades its rating for EssilorLuxottica to neutral from buy. Shares are down 1.3% at 277.80 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 03, 2024 11:21 ET (16:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。