Pareto Bank Minor model adjustments
We have updated our estimates ahead of the Q2 report (due at 07:30 CET on 20 July), and lifted our 2022–2023e EPS by ~2% on higher NII. We do not consider these changes to be material, and we have not changed our BUY recommendation. On the back of our raised EPS estimates and improved capital position, we have increased our target price to NOK59 (57).
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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