Adevinta (Buy, TP: NOK135.00) - Set to bounce back
Adevinta’s share price has fallen by 50% over the past six months, c3x the average of its broader peer group. We have taken a closer look at the market’s main concerns. We view the significant share-price decline as an overreaction, and reiterate our BUY and NOK135 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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