Catena (Buy, TP: SEK565.00) - Potential ramp-up in 2022–2023e
We believe the development upscaling has yet to be seen, but management seemed somewhat more bullish on new development starts, in our view. We reiterate our BUY, but have lowered our target price to SEK565 (600) due to rising interest rates and data indicating falling market rents in some cities.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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