Rusta (Buy, TP: SEK75.00) - Firing on all cylinders
Rusta reported fiscal Q2 results significantly above our expectations, with a strong start to its Christmas sales, and reiterated its financial targets. We remain positive on earnings momentum and expect it to continue to outperform the market in Q3. We also highlight that Other Markets has reported black figures YTD. We reiterate our BUY and have raised our target price to SEK75 (56), mainly driven by higher estimates.
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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