Betsson Minor model adjustments
We have updated our estimates on minor FX and opex adjustments. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our SEK180 target price.We estimate Q4 revenue growth of 16% YOY and EBIT of EUR71.8m, up 26% YOY. Moreover, for 2024 we expect a proposed DPS of EUR0.70 (SEK~8.05), in line with the company’s 50% payout policy. The results are due at 07:30 CET on 6 February.
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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