Bravida (Buy, TP: SEK92.00) - Industrial roll-up case playing out
Q2 looks set to be another strong quarter, even as the last of Oras’ legacy contracts are finalised, as we forecast 8% YOY adjusted EBIT growth. With the outlook for stable markets and a healthy order backlog supporting organic growth, the asset-light model should continue to deliver strong FCF. This indicates ample financial resources for further M&A, with 11 acquisitions already announced YTD. We reiterate our BUY and SEK92 target price.
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.