NENT Group (Hold, TP: SEK400.00) - Upcoming support from price hikes
We have upgraded the stock to HOLD (SELL) with an unchanged SEK400 target price, reflecting the weak share price. Viaplay’s Nordic price hikes should strengthen sales growth and the early-days expansion supports the long-term case. We find this reflected in the share price, and consensus now looks more realistic as we approach the Q1 report (due at 07:30 CET on 22 April).
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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