Elektroimportøren (Buy, TP: NOK75.00) - The lights are on
A market disruptor, Elektroimportøren is now Norway’s leading online electrical equipment retailer. We see it continuing to outgrow competitors, supported by an attractive market with structural growth, ambitious store roll-out targets in Norway and potential to expand into Sweden, as well as the launch of SpotOn. We initiate coverage with a BUY and NOK75 target price.
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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