NENT Group (Buy, TP: SEK300.00) - Stay tuned for streaming
The Covid-19 crisis has put pressure on NENT’s subscription and advertising business. Key questions are when premium sports will resume, and how NENT will cope with weaker ad markets. We have cut our 2020e and 2021e EBIT by 25% and 13%, respectively. However, we remain positive on Viaplay’s growth outlook, and therefore reiterate our BUY but with a new SEK300 (335) target price.
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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