DnB Markets - Adevinta (ADEB) Adevinta (Hold, TP: NOK140.00) - Growth set to accelerate

Report

DnB Markets

Ole Martin Westgaard

EUR 444.41 For Business Accounts Only

Adevinta (Hold, TP: NOK140.00) - Growth set to accelerate

Adevinta reported a better-than-expected Q1, with signals that growth is set to accelerate in Q2, supported by easy comparables and an improved market outlook. We reiterate our HOLD as we continue to find the valuation fair, but have raised our target price to NOK140 (130) on positive estimate revisions.

05/05/2021 26 EN

Underlying

Adevinta

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Provider

DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

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Analysts

Ole Martin Westgaard

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Adevinta (Hold, TP: NOK140.00) - Growth set to accelerate

Adevinta (Hold, TP: NOK130.00) - France strikes back

Adevinta (Sell, TP: NOK120.00) - Planning to divest UK assets

Airthings (No_rec, TP: NOK) - Recommendation and target price withdrawn

SpareBank 1 Helgeland (Hold, TP: NOK167.00) - Softer margin, but lower costs

Smartoptics (Buy, TP: NOK27.00) - We remain optimistic

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