Hexagon AB (Buy, TP: SEK155.00) - Solid foundation for 2022
Hexagon’s Q1 beat strengthens our bullish view on its ability to show organic growth and pricing power with expanding margins in an uncertain macro and inflationary environment. We have raised our adj. EBIT by 2% for 2022–2023e, which puts us 4–5% above Infront consensus. We reiterate our BUY and SEK155 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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