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STOCKS NEWS EUROPE-Luxottica up after BOA-ML research move

Tue Jun 23, 2009 4:14am EDT

Stocks

   

Italian luxury eyewear maker Luxottica SpA (LUX.MI) is up 2.3 percent at 13.97 euros after Bank of America-Merrill Lynch adds the stock to its Europe 1 list.

The broker has a "buy" rating on the stock and a price target of 16.80 euros.

Luxottica's addition to the list "reflects our view that LUX will emerge as an even more dominant force in its industry post-2009 whilst we also expect a gradual but continual improvement in news flow throughout the rest of the year", Bank of America-Merrill Lynch said in its research report.

The DJ Stoxx personal goods index .SXQP is off 0.33 percent.

Reuters Messaging rm://ian.simpson.reuters.com@reuters.net


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