Self Storage Group ASA (Buy, TP: NOK18.50) - The expansion continues
Self Storage Group’s Q1 results were in line with our forecasts, but adjusted for the NOK0.9m spent on M&A, the underlying results beat expectations. Given the company’s focus on opening new logistics sites, we expect continued growth. We keep our BUY, but have raised our target price to NOK18.5 (18) on the back of our updated forecasts and peer valuation.
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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