Electrolux Professional (Buy, TP: SEK29.00) - Turning Professional
We initiate coverage of Electrolux Professional with a BUY and SEK29 target price. We expect demand from the hospitality sector to collapse short-term in the wake of the Covid-19 outbreak. However, beyond this we see a compelling M&A roll-up story, support from its solid balance sheet, and an attractive valuation, with the stock trading at a 2021e EV/EBIT of 6x.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.