Axactor (Hold, TP: NOK6.50) - Set for improved collections
We expect Axactor to report Q1 pre-tax profit of EUR9m on increased activity and a gradual uptick in investment volumes (report due at c07:00 CET on 28 April). We expect Axactor’s collection performance to move closer to 100% in Q1 after the revaluations carried out towards end-2021. The debt-collection market is still a few quarters away from a full return to pre-pandemic activity levels, in our view, and we continue to expect EUR50m in portfolio investments for Axactor in Q1. We reiterate our HOLD but have raised our target price to NOK6.50 (6.00) on c3% higher 2022e EBIT.
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.