Atea (Buy, TP: NOK180.00) - Overall a relief
While Atea’s top line and earnings for Q3 were below our estimates and consensus, a higher gross margin than expected gives us cause for optimism. We have made only limited changes to our estimates and reiterate our BUY and NOK180 target price. In sum, we find the decent growth in gross profit and EBIT improvement YOY despite tough comparables a relief given the current macro backdrop and poor trading by peers, and consider the post-results share price reaction thus far overdone.Atea is a Nordic and Baltic supplier of Information Technology (IT) infrastructure. Co. delivers IT products from vendors. Co.'s business can be divided into three separate product and service areas: hardware, software and services. Co.'s hardware, software and services offerings are divided into four areas: Communication, which consists of communication and networks; Collaboration, which consists of video and web conferencing, IP telephony, AV solutions, Unified Communication solutions, mobility and chat; Clients, which consists of PCs, tablets, smartphones; as well as Data centres, which consists of servers, data storage, virtualization and management.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.