IAR SystemsStrong underlying earnings
IAR Systems reported strong Q2 sales growth and solid underlying EBIT, beating our forecasts. With Secure Thingz in the numbers, the scene is set to reignite the growth story, we believe. While the long-term potential in this growth leg lies beyond our forecast period, we have raised our fair value estimate to SEK280–330 (250–310) on updated estimates.
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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