LONDON, October 1 (New Ratings) “” Analyst Andreas Willi of JP Morgan maintains his “neutral” rating on Electrolux (ELUXb.ST). The fair value has been raised from Skr 180 to Skr 185.
In a research note published yesterday, the analyst mentions that Electrolux faces less exposure to the underlying weakness in the US housing market, as compared to its consumer durables sector peers. JP Morgan expects the increasing pricing pressures in the sector and the persisting sluggishness in the company’s Chinese and other developing markets to considerably offset its earnings growth prospects in the near term.