Self Storage Group ASA (Buy, TP: NOK27.00) - Supportive Q3 and guidance
SSG reported Q3 revenues, EBIT and KPIs broadly in line with our forecasts, and its raised guidance of opening 12,000–14,000sqm of lettable area in 2021, up from 10,000sqm, also supported our 2021 forecasts. However, it beat our Q3 EPS estimate on lower financing costs, and as we have trimmed our funding costs forecast, we have lifted our 2020–2022e EPS. We retain our BUY and NOK27 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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