Skistar (Buy, TP: SEK155.00) - Good Q2 in midst of pandemic
SkiStar matched our Q2 expectations, with its Swedish resorts seeing strong domestic demand, while border closures limiting high-season international demand hit its Norwegian resorts harder. We believe SkiStar could excel in the next fiscal year, implying limited forecast changes, with the company benefiting from strong leisure demand (e.g. outdoor and staycations) and pricing power. We reiterate our BUY and SEK155 target price.
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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