Smartoptics (Buy, TP: NOK25.00) - Shortages set to ease
We reiterate our BUY, NOK25 target price and forecasts ahead of the Q2 results, and note Smartoptics’ attractive growth and valuation profile. We believe it continues to navigate the components landscape well and see improvements in bottleneck factors going into 2023. While enterprise demand may weaken somewhat in a cyclical downturn, secular growth drivers, telecom-operator demand and waning supply constraints should offset this in our view.
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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