Elektroimportøren (Buy, TP: NOK100.00) - Closed stores? No problem
Elektroimportøren’s strong Q1 included better than expected revenues and EBITDA margin and a positive outlook for Q2 with stores reopening in May. We reiterate our BUY and have lifted our target price to NOK100 (86) on our estimate revisions and the positive Q2 outlook for 2021.
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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