Autostore (Sell, TP: NOK18.00) - Demanding order expectations
We believe AutoStore’s order intake could disappoint materially in Q1, and that underlying order trends have been masked by FX. We point to several recent negative developments and reiterate our SELL and NOK18 target price ahead of the Q1 print later this week.
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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