Seb: Oddo raises target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Groupe Seb shares, having increased its target price for them from E119 to E127, seeing the small electrical appliance manufacturer as having many possibilities to improve margins from 2023.


In an uncertain environment, exposure to China (26% of sales) and Professional (9% of sales) will be factors supporting organic growth (which is expected to be +5% and +15% respectively) in the short and medium term, the analyst said.

Oddo says that 2023 will be a first step in rebuilding margins with the aim of reaching 10% in the medium term. Along with the strong generation of free cash flow, the group's debt is under control, it adds.


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