Seb: TP ICAP Midcap raises target price

(CercleFinance.com) - TP ICAP Midcap announced on Friday that it had raised its target price for Seb shares from E159 to E163, while maintaining its buy recommendation on the stock.


The broker highlights the 'disproportionate' decline in the small electrical appliance manufacturer's share price, which recently returned to its annual lows.

A downward movement accelerated by the election of Donald Trump and its potential impact on the currency and tariff fronts, explains the investment bank.

However, we feel that these fears are overvalued, and that the valuation is becoming extremely disconnected from reality, TP ICAP Midcap says.

Seb has weathered all the economic, monetary and health crises, adapting its structures, production facilities and driving investments to limit the impact of the contraction in sales, and has the capacity to adjust its selling prices, the broker emphasizes.


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