Bernstein Remains 'Relatively Constructive' on EssilorLuxottica H2 Top-line Growth on Smart Glasses Rollout

07:18 AM EDT, 09/25/2026 (MT Newswires) -- Bernstein maintained its constructive stance on EssilorLuxottica's (EL.PA) second-half top-line growth after the latest launch of its smart glasses collaboration with Meta Platforms (FB2A.F). "New form factors, higher pricing, and improving AI and tech connectivity could also help address tough comps. Given that much of this newness is already in store end-3Q26/mid-4Q26, we remain relatively constructive on top-line growth in 2H26E," analysts said Friday. Meanwhile, the research firm noted that its outlook for full-year 2027 and 2028 remains cautious amid macroeconomic pressures on core consumers and persistent governance concerns through the first half of 2027. Furthermore, the research firm views upcoming smart glasses launches from Alphabet's (ABEA.F) Google and Apple (APC.F) as potential market demand disruptors and accelerators of product cannibalization. "Overall, these uncertainties now seem largely priced in. Concrete positive catalyst to put these uncertainties to bed, however, remain limited," the note said. On the earnings side, a cleanup of Bernstein's adjusted tax model serves as the key catalyst behind the research firm's lowered EPS estimates for 2026 and 2027. Analysts also cut their price target on the market-perform-rated stock to 185 euros from 200 euros.