Notch 1 upregulates the expression of p50, p65, RelB, and c Rel NF subunits in murine bone marrow hematopoietic precursors (Figure 1a). Through this effect, Notch 1 controlled the LPS induced proliferation of B cells and GM CSF induced differentiation of dendritic cells. Conversely, NF has been reported to increase transcription of Notch ligand Jagged 1, as well as Notch targets Deltex 1 and HES 5.
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We feel a price to sales ratio of 2.5 is fair. This is where its shares trade today and is in line with peer LVMH (OTCPK:LVMUY). Based on this multiple and an estimated 480 million shares outstanding, we have a price target of $57.30 on Luxottica’s shares.
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