Electrolux Joint Venture Deals with Midea Remain on Track
Dow Jones
Sep 10
1315 GMT - The Electrolux sales and manufacturing joint ventures with Midea remain on schedule, with the sales venture expected to start contributing to the group from the fourth quarter, Deutsche Bank analyst John Kim writes. The bank recently met with Electrolux management and it says other takeaways include that restructuring programs are also progressing to plan while there has been limited change in end-market demand. Some cost pressure is expected in the second half from higher energy prices, it adds. Deutsche Bank rates Electrolux at hold with a 33 Swedish kronor target price. Shares fall 0.5% to 26.66 kronor.
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