Viaplay Group (Buy, TP: SEK370.00) - Not just a drive to survive
We reiterate our BUY and SEK370 target price ahead of the Q4 results (due at 07:30 CET on 14 February) to include a SEK263m adj. EBIT loss but on-track subs growth (c80% YOY). We have cut our 2023e EBIT by 10% to reflect the Nordic revenue growth guidance (12–15% YOY) but remain above consensus and expect signs of resilience (pricing power and subs growth along with stabilising content costs) to support the case ahead.
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.