Skistar (Hold, TP: SEK170.00) - High-season demand at record high
SkiStar has handled the start to the 2021/22 high season well in close co-operation with health authorities. Good snow conditions bode well for the rest of the season, as international demand still seems likely to return. We like the operating model, driven by private leisure demand, pricing power, and positive market trends (including staycations and ESG). We reiterate our HOLD but have lowered our target price to SEK170 (175).
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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