Carasent (Buy, TP: NOK35.00) - Refocused growth strategy
We have made only minor revisions to our organic growth estimates, but have lowered our 2023–2025e gross opex on the announced cost-reduction programme. Despite the current headwinds for organic growth, we expect the new strategy to strengthen Carasent’s position in the Swedish market and set the company up for accelerated growth and operating leverage. Thus, we reiterate our BUY and NOK35 target price.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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