Self Storage Group ASA (Buy, TP: NOK21.00) - Q4 EBIT beat our forecast
Q4 EBIT beat our forecast on a higher than expected EBIT margin, with costs growing less expected as the effect of an increase in self-owned assets lifted margins more than expected. With the guidance of a new 10,000sqm of rental capacity from developments to be opened in 2019, we see support for our growth story and reiterate our BUY and NOK21 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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