Signify : Financial profile a drag on company with much going for it
>We increase our estimates by 6% and our TP to € 45 - We increase our estimates by roughly 6%. Moreover, we increase our target price to € 45 per share, while reiterating our Neutral rating. Signify continues to expect comparable sales growth of 3-6% for the full year 2021 (we are at 3.8%). In addition, Signify expects to achieve an adjusted EBITA margin of 11.5-12.5% (we are at 11.6%). We note that the company said that margins in 3Q21 would be in line with 3Q20, wh...Signify NV Formerly known as Philips Lighting NV. Signify NV, formerly Philips Lighting NV, is a company based in the Netherlands that provides lamps and lighting solutions. Its product portfolio includes, among others, incandescent lamps, halogen lamps, fluorescent lamps, linear fluorescent lamps (LFL), compact fluorescent lamps (CFL), high-intensity discharge lamps (HID) and light-emitting diodes (LED), as well as electronic components, such as electronic ballasts and drivers. The Company also provides integrated and customized lighting systems. Its service portfolio includes light management and value-added services, such as energy audits, light design and engineering, as well as remote monitoring and managed services. The Company operates through four segments: The Lamps segments comprises conventional lamps and lamp electronics; the LED segment focuses on LED lamps; the Professional segment includes lighting systems and services for professional consumers, and the Home segment covers consumer luminaries and home systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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