Seb: Bryan Garnier raises target price
(CercleFinance.com) - Bryan Garnier has reiterated its "buy" rating on the Groupe Seb stock, raising its corresponding fair value from 180 euros to 190 euros, saying that it is convinced that the small household appliance maker will exceed its plan for synergies for 2020 (40 million euros).
It highlights an "excellent track-record in the integration of acquisitions and WMF and SEB's differentiated and complementary businesses in terms of product category, geographical footprint and price positioning."
The broker expects synergies of 54 million euros in 2020, with cost synergies representing three-quarters of this forecast "since sales synergies are more complex to estimate at this stage."
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
It highlights an "excellent track-record in the integration of acquisitions and WMF and SEB's differentiated and complementary businesses in terms of product category, geographical footprint and price positioning."
The broker expects synergies of 54 million euros in 2020, with cost synergies representing three-quarters of this forecast "since sales synergies are more complex to estimate at this stage."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.