New Wave Group (Buy, TP: SEK138.00) - More promising 2025
As New Wave Group performed well in Q4 against a still-weak retail backdrop, we have made minor forecast changes following our larger revisions pre-report. Strong FCF and financials suggest the company has ample resources to drive its organic initiatives (Canada and Craft teamwear now highlighted), potential M&A and shareholder-friendly capital allocations. We reiterate our BUY and have raised our target price to SEK138 (126).
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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