Axactor (Hold, TP: NOK7.00) - Short-term setbacks
In a market update ahead of the Q4 report (due at 07:00 CET on 18 February), Axactor announced negative portfolio revaluations in the quarter and new investment guidance for 2022. We have cut our 2022–2023e EPS by 27–39%, as we have factored in 12–17% lower gross revenue for 2022–2023e from lower investments in new portfolios and reduced collection levels going forward. We have cut our target price to NOK7 (10.5) and downgraded to HOLD (BUY).
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.