DnB Markets - Besqab (BESQAB) Besqab (Hold, TP: SEK28.00) - Besqab 2.0

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DnB Markets

Niklas Wetterling

EUR 88.67 For Business Accounts Only

Besqab (Hold, TP: SEK28.00) - Besqab 2.0

We have updated our estimates following the merger of Aros Bostad and Besqab. On an IFRS basis, we expect weak and volatile 2024–2025 earnings until synergies materialise, with gradually ramped-up project starts from 2025. We reiterate our HOLD and SEK28 target price.

07/06/2024 1 EN

Underlying

Besqab

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Provider

DnB Markets

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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Analysts

Niklas Wetterling

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DnB Markets

Besqab (Hold, TP: SEK28.00) - Slowly moving in the right direction

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Linus Sigurdson

Linus Sigurdson

Pick your contender

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Besqab (Hold, TP: SEK28.00) - Besqab 2.0

Besqab (Hold, TP: SEK28.00) - Slowly moving in the right direction

Expectations running ahead

Vitrolife (Buy, TP: SEK280.00) - Underlying trends set to continue

Pick your contender

Storytel (Buy, TP: SEK78.00) - Gross margin momentum

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