Skistar (Buy, TP: SEK170.00) - Demand builds for next season
The Q3 results were weaker than we expected, but still up YOY. Given the excellent snow conditions in 2023/24, pre-bookings for the 2024/25 high season are already robust, suggesting profitable growth for the core ski operations in 2024/25. We have raised our 2024/25–2026/26e EPS by 2–3%. We continue to like SkiStar’s operating model, pricing power and positive market trends (staycations and ESG), and reiterate our BUY with a raised target price of SEK170 (160).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.