Komplett (Hold, TP: NOK8.50) - Weak Q2, saved by waiver
The Q2 results were weak, with adj. EBIT significantly below consensus on increased campaign pressure in its markets. On the positive side, revised covenants for the rest of 2024 should offer some relief, and the company gave a cautiously optimistic outlook for H2. We reiterate our HOLD, but have cut our target price to NOK8.5 (9.5) on reduced 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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.