Report
Karl-Johan Bonnevier
EUR 484.78 For Business Accounts Only

Loomis (Buy, TP: SEK425.00) - Capital allocation alternatives

Q3 saw a stronger US operation, but with profitability in Europe still struggling. With Loomis back in acquisition mode, consolidation of Cima SpA offset the negative effect of Europe on our 2024-2025e EPS, which are basically unchanged. We expect greater acquisition activity, redeploying Loomis’ strong financials, to be the reason for not restarting its share buybacks near-term. We reiterate our BUY and SEK425 target price.
Underlying
Loomis AB

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Karl-Johan Bonnevier

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