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