Rusta - Initiation of coverage - Growth at a reasonable price
Having expanded its hard-discount retail concept outside its home market nine years ago, Rusta has become a Northern European discount champion. Its clear roadmap, and best-in-class store and product management, make it well placed for further growth in our view. We initiate coverage with a BUY and SEK56 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.
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