New Wave Group (Buy, TP: SEK215.00) - Another quarterly beat
The company continues to see strong earnings revision momentum, with Q1 bringing 41% revenue growth and expanding EBIT margins, plus all areas and geographies now contributing post-pandemic and taking market share. We reiterate our BUY and have raised our target price to SEK215 (200), with record-strong financials indicating resources to drive further organic growth initiatives and potentially return to M&A mode.
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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