Byggfakta Group (Buy, TP: SEK50.00) - Compelling value for resilience
We continue to see fairly low estimate risks for 2023 and believe investors will increasingly appreciate Byggfakta’s through-the-cycle growth and FCF characteristics over the coming quarters. Having trimmed our 2023e adj. EBITDA by only 2%, we have upgraded to BUY (HOLD), reiterating our SEK50 target price, but we still expect the stock to be a ‘show-me’ story short-term.
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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