Otovo (Hold, TP: NOK2.60) - Needs to rebuild investor trust
With order intake on the soft side in Q4, we have lowered our installation forecasts for 2024–2025 by 27–11%, but expect this to be largely offset by guided opex reductions being higher than expected. With significant concerns about Otovo’s business model in the capital markets, we believe the company needs to rebuild investor confidence and start to achieve its targets by scaling up its platform and improving profitability to see any re-rating of the stock. We reiterate our HOLD and NOK2.6 target price.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.