Rusta (Hold, TP: SEK90.00) - Increased focus on growth
The Q4 results were slightly better than we expected, following a very cold spring and the Tietoevry IT incident. Also, the strong start to the summer season and lower sourcing costs from Asia and Europe are set to offset recent headwinds on the freight side. Although we still like the long-term equity story, we find the stock fairly valued. We reiterate our HOLD, but have raised our target price to SEK90 (80) on 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.
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.