New Wave Group - Initiation of coverage - Impressive owner-driven model
We initiate coverage of New Wave Group with a BUY and SEK200 target price. We see a strong founder-/ entrepreneur-driven company, well-placed to take advantage of favourable consumer trends and spending patterns, having further cemented its positions during the pandemic. With record-strong financials, we believe it has the resources to drive further organic growth initiatives and potentially return to M&A mode, with our value gap analysis implying potential in all drivers.
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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