Adevinta (Buy, TP: NOK115.00) - Brake check
With the stock down 40% in the past six months and early signs the negative trend in mobile.de is bottoming out with new price increases set for April, we remain neutral on the Q1 results despite being slightly below consensus. We continue to find the stock attractively valued and reiterate our BUY and NOK115 target price.
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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