Crayon (Buy, TP: NOK27.00) - Still overlooked and underrated
Following above-consensus Q4 results, and having continued to build a solid track record through 2018, Crayon remains overlooked and underrated by the market in our view. We have raised our estimates for 2019–2020 and our target price accordingly to NOK27 (23). We reiterate BUY.
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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