NENT Group (Hold, TP: SEK385.00) - Inspiring story-telling
Underlying growth remains robust thanks to Viaplay and we have raised our 2021e adj. EBIT c5% post-Q2. We expect c4m Viaplay subscribers in 2022e (Q2a: c2.7m) and NENT’s new vision (15+ new markets in 5+ years) sounds interesting, although in need of more details. We have lifted our target price to SEK385 (350) and downgraded to HOLD (BUY).
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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