Millicom (Buy, TP: SEK520.00) - Q2 comments in focus
Given its mid-March update stating that the operations were following company plans, we believe Q1 should be fairly unaffected by Covid-19. We believe the main focus in the report will be on the impact for Q2. We reiterate our BUY but have cut our target price to SEK520 (550).
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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