(News Bulletin 247) – Bank of America reiterates its ‘buy’ recommendation and its target price of 180 Swedish crowns on Electrolux, the day after an investor day (CMD) for the household appliance group devoted to its recovery in North America .
‘The improvement in North America through automation, modulation and efficiency measures could generate an EBIT margin of 6% in 2024’, points out the broker in the summary of its note.
BofA adds that Electrolux stock ‘is currently trading at a rock bottom valuation (eight times EPS) with results at the lowest over the last decade, and with a strong liquidity position’.
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