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Spinoff Report
ELUXB SS: Recovery Benefits from FY21E, Continue to Hold

Less than two months since Spinning off EPROB SS on March 23, 2020, Electrolux AB (ELUXB SS) is up +23% versus the OMX 30 index, up +8% during that time. With its 1QFY20 earnings largely in-line with expectations, its strong financial positioning versus peers, we continue to see near-term positives for the company ahead of a longer-term recovery and recommend holding ELUX.

  • Stock Gained +23% Vs. OMX 30 Index’s +8% Since its Spinoff
  • Investors Recommended to Hold ELUXB SS / Recovery to Start From FY21E
  • ELUXB Well Positioned with Low Leverage Versus Peers
  • Near-Term Positives: New Product Launches / Improved Price Mix Offsetting Lower Volume
  • Target Price Maintained / ELUX is a Current Model Portfolio Holding
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