Self Storage Group ASA (Hold, TP: NOK25.00) - Q2 in line; review wrapped up
Q2 EBIT was in line with our forecast, and KPIs were broadly in line (a higher occupancy rate was the strongest data point). The board has wrapped up the strategic review after concluding the best option for shareholders was for the company to continue trading as a standalone business. We see downside risk to consensus, and with the stock still trading at a premium to peer multiples, we reiterate our HOLD and NOK25 target price, despite what we view as an attractive investment case.
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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