Self Storage Group ASA (Buy, TP: NOK27.00) - Volume records raise our EPS
The Norwegian economy has performed better than we expected at the start of the Covid-19 pandemic, and stronger fundamentals and record-breaking transaction volumes in the housing market have led us to raise our occupancy-rate and EPS forecasts for SSG. The Q3 results are due at c07:30 CET on 3 November, and apart from some reduced prices (short-term rent discounts for new tenants in a marketing campaign), we expect no Covid-19 effects. We have upgraded to BUY, and raised our target price to NOK27 (25).
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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