Goldman Sachs: Buy on Groupe SEB, Neutral on Electrolux as Profit Margins Show Signs of Recovery
Goldman Sachs began coverage of French appliance maker Groupe SEB with a buy rating and a €64 12-month price target, and assigned a neutral rating to Sweden's Electrolux with a SEK65 target. The note emphasizes a near-term cautious stance on the sector, sees SEB's margins recovering ahead of consensus driven by a cost-out programme, and flags limit…