NetEnt (Buy, TP: SEK55.00) - Decent end to 2018
The most recent results of our proprietary casino study imply slight market share gains for NetEnt in the final weeks of the high-season Q4. Our study implies a good possibility that NetEnt will show revenue growth improvements going forward. In our view, the new management is executing well on its action plan and even slight revenue growth improvements should be enough to trigger a re-rating of the stock in H1 2019e. We reiterate our BUY and SEK55 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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