Skistar (Hold, TP: SEK175.00) - 2021/22 season gearing up nicely
SkiStar’s Q4 is a low-season quarter, but the report gave good guidance for a strong recovery in 2021/22, with the high season now seeing a solid pre-booking level (+10% YOY), as international demand returns. We like SkiStar’s operating model, pricing power and positive market trends (including ESG), but after a period of strong share price performance, we find it close to our increased target price of SEK175 (160) and downgrade to HOLD.
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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