(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion and its price target of 127 euros on Groupe Seb, retaining a ‘relatively reassuring statement for the second half of the year due to a more favorable basis for comparison and distributor stocks more normative.
The design office leaves its estimates almost unchanged (EPS -0.9% linked to currency effects). According to him, the confirmation of a recovery in consumer activities should reassure, but he also recognizes that uncertainties remain on the rebound of China.
‘Exposure to professional coffee will be an additional supporting factor for organic growth. 2023 will be a first step in rebuilding margins. In parallel with the strong generation of FCF, debt is under control,’ he continues.
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