(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on Groupe Seb with a price target raised from 119 to 127 euros, seeing for the manufacturer of small household appliances many advantages to improve margins from 2023.
‘In an uncertain context, exposure to China (26% of sales) and to Professionals (9% of sales) will be factors supporting organic growth (expected at +5% and +15% respectively) in the short term. and medium term’, thus estimates the analyst.
According to Oddo, 2023 will be a first step in rebuilding margins with the objective of reaching 10% in the medium term. ‘Parallel to the strong generation of free cash flow, debt is under control,’ he adds.
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