Assa Abloy: Oddo adjusts EPS estimates
(CercleFinance.com) - Broker Oddo points out that the Swedish lock maker's Q2 results were better than expected, with EBIT 2% above the consensus.
As a result, analysts say that the consensus will need to be increased.
June saw another double-digit decline, although July got off to a better start. Ongoing cost adjustments should enable the group to improve its EBIT in the coming quarters, Oddo says.
Analysts have nudged up their EPS estimates, now expecting sales performance of -7.4% and +6.4% respectively for 2020 and 2021 (compared to -5.9% and +5.3% previously), and an EBIT margin of 13.5% and 15.2% (compared to 12.9% and 15.3% previously).
Oddo confirms its buy rating on the share, along with a target price of 230 Swedish kronor - it is up over 4.5% on Monday.
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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.
As a result, analysts say that the consensus will need to be increased.
June saw another double-digit decline, although July got off to a better start. Ongoing cost adjustments should enable the group to improve its EBIT in the coming quarters, Oddo says.
Analysts have nudged up their EPS estimates, now expecting sales performance of -7.4% and +6.4% respectively for 2020 and 2021 (compared to -5.9% and +5.3% previously), and an EBIT margin of 13.5% and 15.2% (compared to 12.9% and 15.3% previously).
Oddo confirms its buy rating on the share, along with a target price of 230 Swedish kronor - it is up over 4.5% on Monday.
Copyright (c) 2020 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.