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Investing.com - Berenberg initiated coverage on Luceco PLC (LON:LUCEL) (LON:LUCE) with a Buy rating and set a price target of GBP1.60, citing the company’s manufacturing capabilities and product innovation.
The research firm highlighted Luceco’s position as a leading designer and manufacturer of residential and commercial electrification products and systems, with primary operations in the UK market.
Berenberg noted three key business strengths, including Luceco’s "strong track record of product development" and "proven ability to innovate in a dynamic consumer and regulatory environment."
The firm also emphasized the importance of Luceco’s manufacturing facility in Jiaxing, China, where most of its products are manufactured, giving the company "full control of its supply chain."
Berenberg’s analysis further pointed to Luceco’s "strong balance sheet and cash generation capability," which provides the company with scope for additional mergers and acquisitions as well as organic investment opportunities.
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