Report
Christoffer Wang Bjørnsen
EUR 463.07 For Business Accounts Only

Otello (Buy, TP: NOK26.00) - Turnaround materialising

With both AdColony and Bemobi recording another quarter of solid growth, Q3 was in our view another data point indicating that Otello’s turnaround story is materialising and that both its financials and its share are likely to see a continued positive re-rating. We reiterate our BUY and have raised our target price to NOK26 (25) on our increased confidence in AdColony having reached its trough.
Underlying
Otello Corp ASA

Opera Software is a provider of cloud-based consumer products and services. Co.'s Mobile Operators provides four principal cloud-based solutions and services to operators worldwide. Co.'s Mobile Consumers provides Opera Mini and Opera.com to its users. Co.'s Mobile Publishers and Advertisers provide the Opera Mediaworks brand and the Opera Mediaworks Response brand. Co.'s Desktop Consumers provides its users with a browsing experience, and Co.'s Device Original Equipment Manufactures allow device manufacturers to provide web browsing capabilities and internet access to their operator and consumer end customers.

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Christoffer Wang Bjørnsen

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