Axactor (Hold, TP: NOK6.00) - Set for improvements in 2022
Axactor’s Q4 held few surprises following a market update in mid-January, where a EUR43m portfolio revaluation led to a pre-tax loss of EUR42m. The report had few material changes from the update with focus remaining to be on the strong investment guidance for 2022 and the revised collection forecast. We have slightly lifted our estimates and reiterate our HOLD as uncertainty persists due to the recent soft operational performance. We have cut our target price to NOK6 (7) on a sector revaluation.
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.