Bryan Garnier - LMK GROUP (LMKG.ST) LMK GROUP: No hard landing in sight in Q3, but emerging cost inflation | BUY | SEK157(+201%)

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Bryan Garnier

Clement Genelot

LMK GROUP: No hard landing in sight in Q3, but emerging cost inflation | BUY | SEK157(+201%)

LMK GROUP - BUY | SEK157(+201%)
No hard landing in sight in Q3, but emerging cost inflation

Q3 growth to reach 13.6% at constant FX
Cost inflation headwinds materialising on contribution margin…
…offsetting our aggressiveness on marketing spending
New CTO and new Head of Corporate Communications
Buy reiterated as LMK remains too attractively valued to be ignored

05/10/2021 4 EN

Underlying

LMK GROUP

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Clement Genelot

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LMK GROUP: No hard landing in sight in Q3, but emerging cost inflation | BUY | SEK157(+201%)

LMK GROUP: Sharp business deterioration leaves LMK in cash preservation mode | NEUTRAL vs. BUY | SEK21 VS. SEK57 (+74%)

LMK GROUP: 2023 can still be saved by revamped marketing, 2022 can no longer | BUY | SEK57 VS. SEK96 (+161%)

LMK GROUP: Disappointing Q1 on both sales and margin | BUY | SEK96

ONWARD: from brainGPT to ARC-BCI – fireside chat with the founders

Avantium: joint-development progress in textiles

Egetis: Article highlights Emcitate's broad efficacy in MCT8 deficiency

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