Spinoff Report
EPROB SS: Stock Jumps 29% on Earnings Prompts Profit Booking
Less than two months from its Spinoff on March 23, 2020, Electrolux Professional’s AB (EPROB SS) first earnings results beat expectations and shares jumped +29% on the day, touching our target price. While our long-term positive outlook is maintained, in the short-term EPRO could face some headwinds ahead in FY20, particularly because of the pandemic. As a result, we will continue to keep EPROB SS on our watchlist for re-entry opportunities in the future.
  • +29% Jump on First Earnings Since its Spinoff / Prompts Profit Booking
  • Bolt-On Acquisitions to Continue / Acquired UNIC, a French Expresso Manufacturer in April 2020
  • Delisting of EPRO Class A Shares From the Bourses / 1:1 Exchange of Class A Shares for Class B Shares
  • Long-Term Positive Outlook Maintained / Target Prices Remain Unchanged
  • EPROB SS to Exit Our Model Portfolio at the end of Today’s (May 7) VWAP Holding
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