KID (Buy, TP: NOK175.00) - Surpassing high expectations
In its Q4 trading update, Kid reported strong sales, above consensus and our estimates, despite tough comparables. Our Q4e EBIT of NOK366m is 10% above consensus, and we have increased 2024–2025e EPS by 8–4% following the update. We reiterate our BUY and have raised our target price to NOK175 (165) on increased 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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