Husqvarna AB B

Husqvarna AB produces outdoor power products. Products include: robotic lawn mowers, chainsaws, handheld petrol-powered products such as clearing saws and trimmers, garden tractors, and lawn mowers. Co. is also engaged in providing consumer watering products, cutting equipment and diamond tools for the construction and stone industries. Co.'s products and solutions are sold via dealers and retailers. Co. has three business areas: Europe & Asia/Pacific and Americas, which provide forest, park and garden products to dealers and retailers in Europe and Asia/Pacific, and in North and Latin America, respectively; and Construction, which provides light construction products and diamond tools.
  • TickerHUSQ B
  • ISINSE0001662230
  • ExchangeNasdaq Nordic Stockholm
  • SectorHousehold Goods & Home Construction
  • CountrySweden
Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - A recipe for short-term strength

Organic growth versus Q3’19: 30% Backorders and low inventory levels: a nice cocktail TP raised to SEK 125 (120)

Christer Magnergård
  • Christer Magnergård
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna (Hold, TP: SEK125.00) - Solid performance once again

Husqvarna has been a relative winner during the stay-at-home trend this past year. It has extended its streak of better-than-expected quarterly results to eight, with demand strong in Q3. The next likely catalyst is the CMD on 1 December, where we could see a new EBIT-margin target and/or more details on its robotic-mower business. The 2022 outlook looks better post the Q3 report, but risks remain regarding a reversal of the stay-at-home trend and the lack of Briggs & Stratton engines, hence we maintain our HOLD and target price of SEK125.

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Strong Q3 results

Org. sales growth 6% (30% vs Q3’19) EBIT beat consensus estimates by 23% 2-3% revisions to ‘22e cons, stock likely to underperform

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Disrupted ride-on mowers

A potential 3% hit to 2022e EBIT… …but Q3’21e set to be strong TP cut to SEK 120 (125), reiterate HOLD

Fredrik Ivarsson ... (+2)
  • Fredrik Ivarsson
  • Johan Brown
HUSQ B HUSQVARNA AB B (Personal & Household Goods)

Husqvarna - Supply chain issues hitting ’22e earnings

Potentially lower sales of ride-on mowers in 2022e ~4% impact on group sales in a worst-case scenario ~3% impact on group EBIT in a worst-case scenario

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