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UPDATE: Bank of America Initiates Whirlpool Corporation at Buy on US Appliance Recovery

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Bank of America initiated coverage on Whirlpool Corporation (NYSE: WHR) with a Buy rating and a $140.00 price objective.

Bank of America said, "As the leading global appliance manufacturer and #1 in the US with a 40-45% market share, we think Whirlpool (WHR) is well positioned to capitalize on the recovery of the US appliance market. FCF is strengthening as EBITDA grows and non-operating drags decline, underpinning a possible acceleration in capital return. Moreover, we expect WHR to well exceed its 8% EBIT margin target given that North America is operating at peak profitability on volumes that are down by ~25% from the peak. Our PO of $140 represents 14x 2013E P/E."

Whirlpool Corporation closed at $16.08 on Thursday.

Latest Ratings for WHR

DateFirmActionFromTo
May 2015RBC CapitalInitiates Coverage onOutperform
Jan 2015JP MorganMaintainsNeutral
Dec 2014Bank of AmericaMaintainsBuy

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Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

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