NetEnt (Hold, TP: SEK33.00) - Still some way to go
We expect Q2 to be the second consecutive quarter with a mid-single digit revenue drop YOY and a c10% EBIT drop. Although we are attracted by the long-term growth outlook and management’s initiatives, which could reverse the negative trend, competitive pressure remains strong and we do not expect a trend shift in H2. We reiterate our HOLD and SEK33 target price ahead of the Q2 results (due 12 July at 07:30 CET).
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.