Adevinta (Buy, TP: NOK120.00) - Q2 beat and 2023 guidance raised
The Q2 results beat consensus, including an 8% beat on EBITDA driven by Mobile and European Markets. Also, Adevinta raised its 2023 guidance, and reiterated its long-term guidance. We reiterate our BUY and NOK120 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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