Sats (Hold, TP: NOK18.00) - Club closures slightly up
We find SATS’s club closure update last night neutral. Although the number of closed clubs has continued to increase, the closures are still in line with our expectations, and we believe the company is likely to qualify for the announced compensation package for fixed costs by the Norwegian government, which should significantly reduce cash burn. We have a HOLD recommendation on SATS.
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.