Momentum Group (Hold, TP: SEK110.00) - Solid sector roll-up strategy
Momentum Group reported a solid Q3, and remained poised to adjust to potentially weaker business demand; however, there are no tangible changes yet, with the company enjoying relatively stable aftermarket exposure. With good financial ‘firepower’ and an interesting acquisition pipeline, the sector roll-up angle also looks promising. However, we reiterate our HOLD and target price of SEK110 given its (deserved) premium valuation.
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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