Viaplay Group (Buy, TP: SEK370.00) - Burden of proof, still manageable
We reiterate our BUY but have lowered our target price to SEK370 (390), reflecting management’s muted comments about the Q2 subs outlook and our trimmed 2024e adj. EBIT forecast. Viaplay has shown good resilience so far to the challenging consumer environment, and we still find attraction in the investment case of earnings leverage from H2e owing to pricing, further subs growth and a relatively fixed cost base.
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.