Seb: Bank of America starts monitoring with buy rating

(CercleFinance.com) - Bank of America (BoA) has begun to monitor the share of household electrical appliance maker Seb with a "buy" rating and a target price of 180 euros, expecting that 2021 will be a "recovery year," with sales growth of 8% and earnings growth of 26%.


"SEB trades on a discount to the market and we think strong growth can drive a re-rating", the broker says, which says it expects 2021 sales that are 3% above the consensus, with a 4%-higher estimate for operating profit.

"China is the long term growth driver and we think it will continue to grow sales high-single-digit after 17% growth in '21", it adds.



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