Logistea (Buy, TP: SEK18.00) - Achieving financial synergies
We maintain our positive view ahead of the Q4 results following strong refinancing activities at the end of the quarter. These should be reflected in Logistea’s ‘earnings capacity’, where we forecast ∼10% growth QOQ – a potential near-term catalyst in our view. Due to rising market interest rates, we have lowered our target price to SEK18 (20), but reiterate our BUY.
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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