NENT Group (Buy, TP: SEK280.00) - Viaplay on track
We forecast Q3 EBIT up 5% YOY driven by Viaplay subscriber growth but burdened by FX. As NENT nears its 2020 ad contract negotiations, we are cautious on pricing, but due to its growing exposure to streaming subscriptions we still expect 2019–2021 group EBIT CAGR of 7%. We have fine-tuned our estimates and expect clarity on the new organisation with the results. BUY and SEK280 target price reiterated.
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.