Fabege (Hold, TP: SEK185.00) - Large value uplifts
Fabege reported its highest Q1 NOI margin to date, despite unusually cold weather in the quarter. EPRA NAV rose by almost 10% QOQ to SEK220 per share. With rising interest rates we fear the value uplifts will slow down going forward, and thus keep our HOLD recommendation, but have increased our target price to SEK185 (170).
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.