NENT Group (Hold, TP: SEK400.00) - Viaplay story on track
We find NENT on track to deliver on the Viaplay subscriber base target of 3m at end-2020. Potential accelerating ARPU growth in 2021–2022e could take the case to the next level. But for the time being, we believe NENT is rightfully focused on driving subscriber growth in a competitive market. We have fine-tuned up our adjusted EBIT forecasts and raised our target price to SEK400 (395); we reiterate our HOLD.
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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