Assa Abloy (Sell, TP: SEK160.00) - New sheriff in town
Nico Delvaux is set to report his first quarterly results as CEO of Assa Abloy at 08:00 CET on 26 April. We expect few surprises in the report, but look forward to hearing Mr. Delvaux share his thoughts and plans about the company. We have raised our 2018–2020e EBIT by 4–5% (due to FX), explaining our increased target price to SEK160 (155). SELL reiterated.
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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