Elektroimportøren (Buy, TP: NOK100.00) - Showing resilience in a tough market
We are positive ahead of the Q2 results (due at 06:45 CET on 18 August). We expect continued revenue growth, albeit lower than over the past four quarters, as Elektroimportøren should face a slight headwind from temporarily closed stores and tough comparables. We reiterate our BUY and NOK100 target price, as we continue to find the valuation attractive.
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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