Cambi (Buy, TP: NOK12.00) - Hit by supply-chain disruptions
Cambi reported Q1 revenues of NOK69m, versus our estimate of NOK90m, on slower progress and a miss in Cambi Invest. While we had expected the company to reduce its 2022 guidance, it has decided to discontinue guidance due external factors, including geopolitical risks. On the positive side, it revealed its expectations of order intake by end-2023 and end-2024 – slightly above our estimates. That said, with the large estimate miss, we expect the stock to trade down today.
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.