Autostore - Initiation of coverage - The rise and fall of the robots
We consider robotic automation leader AutoStore an exciting company with an overly stretched valuation, and initiate coverage with a SELL and NOK18 target price. This is based on a soft short-term outlook, a strong medium-term outlook, and what we believe are realistic long-term growth and return forecasts.
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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