Trelleborg (Buy, TP: SEK295.00) - Sealing (ongoing) deals
Trelleborg is set to report its Q4 results at 07:45 CET on 27 January with a conference call at 10:30 CET. We forecast Q4 sales of SEK7,902m with group organic growth of c12% YOY. We have raised our 2022–2024e adj. EBIT estimates by c4% on average and are above consensus on Q4e sales but in line on adj. EBIT. We have raised our target price to SEK295 (275) as a result of our updated estimates and expanded peer multiples, and reiterate our BUY.Trelleborg AB provides engineered polymer solutions. Co. has five business areas: Trelleborg Coated Systems, which supplies solutions for polymer-coated fabrics; Trelleborg Industrial Solutions, which provides polymer-based solutions for industrial antivibration solutions and industrial sealing systems; Trelleborg Offshore & Construction, which supplies polymer-based solutions used in offshore oil and gas and infrastructure construction environments; Trelleborg Sealing Solutions, which supplies polymer-based sealing solutions deployed in general industry, light vehicle and aerospace environments; and Trelleborg Wheel Systems, which supplies tires and wheels for materials handling vehicles.
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