Electrolux: Bank of America still a buyer after CMD
(CercleFinance.com) - Bank of America reiterates its "buy" rating on Electrolux shares, along with its target price of 180 SEK, the day after the home appliance group's CMD, which was focused on its North American turnaround.
"Improvement in North America through automation, modulization and efficiency measures could drive 6% EBIT margin in 2024," the broker summarises.
BofA adds that Electrolux shares "current trading at trough valuation (8x P/E) with trough earnings vs last decade, with solid liquidity position".
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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.
"Improvement in North America through automation, modulization and efficiency measures could drive 6% EBIT margin in 2024," the broker summarises.
BofA adds that Electrolux shares "current trading at trough valuation (8x P/E) with trough earnings vs last decade, with solid liquidity position".
Copyright (c) 2023 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.