NENT Group (Buy, TP: SEK280.00) - Streaming ahead of the curve
We initiate coverage with a BUY and SEK280 target price. NENT has benefitted from keeping well ahead of industry trends since it started in the late 1980s, and is becoming more leveraged to Nordic streaming growth (MTG spin-off in early 2019). Viaplay is capitalising on structural streaming growth. Despite rising competition, NENT’s content leadership and growth initiatives should be sufficient for further market share gains.
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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