Corem (Hold, TP: SEK8.00) - Not done selling yet
To strengthen liquidity and improve its ICR without raising equity, Corem needs to divest the cSEK11bn assets for which it has a signed LOI. The Q3 results were neutral, and the -4.2% QOQ property write-down included mark-downs for potential divestments. We reiterate our HOLD, but have raised our target price to SEK8.0 (6.5).
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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