Epiroc (Buy, TP: SEK210.00) - Ramping up
We reiterate our BUY and have raised our target price to SEK210 (180). We see the equity story as compelling and based on three main pillars: 1) strong growth due to high mineral prices and rising demand for metals enabling the transition to electrification; 2) growth from increasing aftermarket and consumables penetration; and 3) structural growth from ever-deeper mines, lower ore grades, and the digitalisation and electrification of equipment. Hence, we expect Epiroc to see some of the strongest growth in the sector in 2021–2023.
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.