More developments
Ahead of the Q3 results, due 19 October at 08:00 CET, we expect profit from rental operations of SEK271m, in line with Inquiry Financial consensus. Fabege has announced two developments after securing leases, leading us to raise our long-term forecasts and NAV forecasts. We have upgraded our recommendation to HOLD (SELL), with a SEK180 (145) 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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