Betsson (Buy, TP: SEK90.00) - Small steps are good enough
We believe the near-term outlook has improved somewhat thanks to a decent start to 2018 and actions by new management with potential pay-off gradually in the coming quarters. In our view Betsson is performing far from its potential, which makes it an attractive story going forward. We have raised our 2018e adj. EPS by 3% and our target price to SEK90 (88) and reiterate our BUY-recommendation.
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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