Perspectives positives malgré un WMF décaféiné - ACHAT - OC 140€
Hier, SEB a publié un ROpA T4 supérieur aux attentes. WMF, qui sera consolidé à partir de 1er janvier 2017, a enregistré des résultats 2016 moins bons que prévu à cause d’une réorganisation logistique en Allemagne, ce qui nous amène à baisser nos estimations d’EBITA de -2% pour 2017/18. Toutefois, nos BNA sont légèrement relevés (+1,8% en moyenne) à cause de frais financiers et d’un taux d’impôt revus à la baisse. Nous restons à l’ACHAT avec un objectif inchangé de 140€ au regard de la dynamique de croissance et de la valorisation attractive.SEB is engaged in the design, manufacture and marketing of cookware and small household appliances such as pressure cookers, irons, coffeemakers, deep fryers, toasters, kitchen utensils, breadmakers, mixers, blenders, bathroom scales, vacuum cleaners, fans, heaters, air conditioners and food processors. Co.'s products fall into eight categories: Home comfort, Home care, Food preparation, Linen care, Personal care business, Cookware, Electrical cooking and Beverage preparation. Co.'s brands are All-Clad, Krups, Lagostina, Moulinex, Rowenta, Tefal, Calor/Seb, T-fal/Mirro/WearEver/AirBake/Regal, Arno/ Panex//Rochedo/Penedo/Clock/Samurai/Imusa/Umco, Supor, AsiaVina and Maharaja Whiteline.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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.