Elektroimportøren (Buy, TP: NOK86.00) - Firing on all cylinders
Elektroimportøren’s strong Q4 report included better than expected revenues, gross margin and EBITDA and a positive outlook for 2021, with a limited impact from the Covid-19 pandemic so far. We reiterate our BUY but have lifted our target price to NOK86 (75) on the back of estimate increases resulting from the better-than-expected end to 2020 and start to 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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