Skistar (Buy, TP: SEK245.00) - Good operational momentum
As SkiStar continues to benefit from its market-leading position in the high-barriers-to-entry Nordic skiing sector, sticky operational model, pricing power, well-invested resort network, as well as favourable structural market trends, we continue to like the company, and have upgraded our recommendation to BUY (HOLD), while lowering our target price to SEK245 (259). Even with recent slowdown signals in the Swedish economy, we believe SkiStar’s outlook remains stable as the company is realising growth opportunities from its own initiatives, such as the recent launch of its own ski clothing brand ‘EQPE’.
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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