UN début d'année tonitruant - ACHAT - OC 160€ (vs 140€)
Hier, SEB a publié un ROpA T1 supérieur de +5% aux attentes grâce à une très forte croissance organique des ventes. Nos BNA 2017-19 sont relevés de +5,3% en moyenne en raison d’une hypothèse de croissance organique relevée et d’un impact devises moins important que prévu sur le résultat. Notre objectif passe à 160€ vs 140€ préc. et nous maintenons notre recommandation ACHAT, compte tenu du momentum positif et d’une valorisation laissant encore un potentiel d’appréciation.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.
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