Coor Service Management (Buy, TP: SEK100.00) - Yield case reinforced
We believe Coor’s improved Q4 indicated that Q3 was a hiccup, with its model still showing strong FCF- generation capacity. Positive underlying trends in Norway and Denmark are adding stability, and we have slightly raised our EPS forecasts for 2023-2025e post results. We like its FCF profile, low operating risk, scope for value-enhancing acquisitions, and strong yield support, reflected in its maintained DPS of SEK4.80 (7.1% yield). We reiterate our BUY and SEK100 target price.Coor Service Management Holding AB is a Sweden-based company engaged in the business support services industry. The Company specializes in integrated facility management (IFM), including both soft and hard kinds of services, such as cleaning, reception, catering, post and parcel, strategic consulting and others. The services can be offered as single or package. The Company operates across Sweden, Finland, Norway and Denmark.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.