CSAM Health (Buy, TP: NOK55.00) - Solid recurring revenue growth
While organic growth (6% YOY) was affected by tough comparables in licence sales, there was a substantial step up in recurring software revenues (c15% organic growth YOY). We expect Q1’s stronger than expected recurring software revenue to drive higher YOY organic growth in 2023e and thus reiterate our BUY; we have raised our target price to NOK55 (45).
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.