Catella (Buy, TP: SEK34.00) - Recovery in focus
We expect continued subdued real estate transaction volumes in Q3. However, we maintain our positive outlook, as a rebound appears likely in the coming quarters, driven by continued rate cuts and a higher risk appetite. We reiterate our BUY and SEK34 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.
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