Carasent (Buy, TP: NOK28.00) - Profitability on the horizon
We have reduced our 2023–2025e organic growth on lower consulting revenues, and while we expect most of the announced cost cuts to materialise in Q3, we have raised our 2023–2025e gross opex on higher headcount estimates. Despite the headwinds, we still expect growth initiatives and cost discipline to drive earnings momentum. Thus, we reiterate our BUY, but have cut our target price to NOK28 (32) on lower operating profitability.Apptix is a provider of hosted business communication, collaboration, and infrastructure solutions to businesses of all sizes. Co.'s portfolio of Cloud solutions includes Microsoft® Exchange, SharePoint®, and Lync®, as well as hosted VoIP, encryption, archiving, and mobile device management. Co.'s hosted services are delivered across a network infrastructure and built upon hardware and software housed in Tier IV, SSAE 16 SOC 1 Type II certified, geographically dispersed interconnected data centers.
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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