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Seb: Invest Securities cuts target price.

(CercleFinance.com) - In a report issued on Tuesday, following household electrical appliance maker Seb's Q3 results, which were unveiled on Monday evening, Parisian broker Invest Securities cut its target price for the share from 155 euros to 150 euros.

Meanwhile, the analyst who monitors the stock also reiterated a "neutral" rating.

Seb yesterday published disappointing Q3 operating profit, "partly because of the timing of marketing expenses", the broker added, even though it hails organic growth which "remains impressive" about 20 basis points above the consensus of 8.8%.

However, the broker has cut its 2017/2019 EPS estimates by 1.9% so, it explains, "to take into account negative FX factors and WMF sales that are below (its) expectations".

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