Atea (Hold, TP: NOK120.00) - Verdict in focus
In conjunction with Atea’s upcoming Q2 2018 results presentation (due 13 July at 07:00 CET), we expect investor focus to be on management’s comments regarding the potential consequences of the guilty verdict announced in Denmark last week, which following statements from the Danish Ministry of Finance have rattled some investors. We have made only limited estimate changes on the back of FX changes, and keep our HOLD and NOK120 target price.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.
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