Carasent (Buy, TP: NOK45.00) - Still on course for strong growth
We have updated our model according to the company’s new reporting structure and made some minor estimate changes post-Q1. Q1 revenues and organic growth were broadly in line with our estimates, and, while sales processes regarding larger clinics are still delayed, the growth outlook remains strong. We reiterate our BUY but have cut our target price to NOK45 (50) on somewhat lower revenues and higher investments related to new growth initiatives than previously forecast.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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