Momentum Group (Hold, TP: SEK89.00) - Momentum remaining strong
Momentum Group kicked off 2023 with a robust Q1, with good underlying demand benefiting from relatively stable aftermarket exposure. We see an appealing industrial roll-up story in a fragmented Nordic industrial-component and service market that could gain pace in 2023. We have raised our 2023–2025 EPS forecasts by 5–6%, allowing for higher peer-valuation multiples, translating into an increased target price of SEK89 (79). We reiterate our HOLD given the limited potential upside.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.