Husqvarna (Buy, TP: SEK100.00) - Time to do a strategic review of Consumer Brands
The Consumer Brands division represents c3% of our SOTP value for Husqvarna. Still, the company ends up talking about it most of the time as the division has ongoing very weak performance. We believe it is time to do a strategic review of this division as something major needs to happen. Looking at the other c78% of the group, it achieved c6% organic growth and c15% EBIT margin. This part of the business is in our view highly underappreciated and is why we keep our BUY recommendation and SEK100 target price.
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.