Rusta (Buy, TP: SEK80.00) - IT issues set to overshadow results
We are neutral ahead of Rusta’s fiscal Q3 report (due at 07:00 CET on 15 March), as we expect likely strong underlying figures to be overshadowed by IT issues. We believe the incident will be treated as a one-off and we still like the long-term equity story. We reiterate our BUY and have raised our target price to SEK80 (75), having rolled our valuation to 2024–2025e.
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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