Komplett (Buy, TP: NOK78.00) - The makings of a giant
We expect Komplett to report a weak Q1, hurt by pandemic reversals on tough comparables. However, we believe this is outweighed by the upcoming combination of Komplett and NetOnNet, which is set to create the leading online electronic retailer in the Nordics. We reiterate our BUY and NOK78 target price as we continue to find the valuation highly attractive.
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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