GARO - Initiation of coverage - ‘Watt’s up?’
GARO develops and manufactures systems for electrical installations and electric vehicle (EV) charging. With a long track record of profitable growth, and exposure to the growing EV market, GARO’s E-Mobility and Electrification segments combine high growth with stable cash generation. We initiate coverage with a BUY and SEK140 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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