Sats (Hold, TP: NOK15.00) - Lower coronavirus impact
SATS just sent out an update on the coronavirus situation and temporary club closures. The company revised its negative revenue impact by NOK50m but gave no updated guidance on the EBITDA effect. Although the update is likely to raise estimates for Q1 somewhat, the risk of a prolonged situation with club closures beyond the current 14 days is still high. Nevertheless, we believe a slightly positive share price reaction is warranted.
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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