Skistar (Hold, TP: SEK130.00) - Sustainability key business driver
SkiStar’s Q1 report (due at 7.30 CET on 19 December) is a pre-season quarter and likely to be a non-event in our view. The new fiscal year is likely to benefit from better timing of holidays, indicating volume potential on top of normal pricing adjustments. We believe the outlook is stable and have made only minor forecast changes. We still like SkiStar’s ‘sticky’ operational model, pricing power, and favourable structural market trends, but see Q2 as having more potential catalysts. We reiterate our HOLD and SEK130 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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