Lyon manager Hubert Fournier said "there are no giants" in Group H after his side were drawn with Valencia, Zenit St. Petersburg and Gent.
Last year's Ligue 1 runners-up received a favourable draw thanks to UEFA's new seeding policy that sees the champions from the top eight sides placed together in the top pot.
That moved perennial powers like Real Madrid and Manchester United into the second pot, and gave Lyon a legitimate chance to advance to the knockout stage.
"It's a pretty open group. That gives us hope for what's to come," Fournier said. "We have every reason to hope to make it to the knockout rounds; we'll be able to mix it.
"It's a homogenous group -- there are no giants, but they're all good teams. Zenit are champions of Russia and very used to the European scene.
"Valencia are also a great team, one of the best in the Spanish league, with huge Champions League experience. They managed to eliminate Monaco in the playoff, and that's nothing to sneeze at.
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