Catena (Buy, TP: SEK475.00) - Not wasting a project opportunity
Catena has continued to ramp up project starts by this week announcing three newbuild projects with Nowaste as sole tenant, with an attractive targeted 7.0% yield on the cSEK1bn investment. Ahead of the Q2 results (due around 7 July), we reiterate our BUY and have raised our target price to SEK475 (450). Catena remains a top sector pick due to segment tailwinds, strong project momentum and what we consider a solid balance sheet.Cantena is a property management company. Co.'s property portfolio consists of two properties in Haga Norra in Solna, outside Stockholm.
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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