Bucking the trend in Paris, EssilorLuxottica is down more than 1% on the back of a recommendation downgrade by Stifel from 'buy' to 'hold', with an adjusted price target of €201 to €203 on the optics giant's stock.

While acknowledging that the Franco-Italian group "has once again demonstrated its defensive status" in its latest publication, the broker is cautious about management's operating margin targets for 2026.

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