Self Storage Group ASA (Buy, TP: NOK20.00) - Seasonal beat
SSG reported revenues in line with our forecast, but the EBIT margin was a positive surprise as Q3 seems to be a seasonally higher-margin period than we had expected. SSG continues to grow in terms of both gross lettable area (GLA) and improved occupancy rates QOQ. We reiterate our BUY and NOK20 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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