Smartoptics (Buy, TP: NOK25.00) - Target price raised again
A growth company with earnings momentum valued at a 2023e P/E of 10.0x is not too common. Smartoptics is set to fuel its long-term growth further by investing more in R&D to capitalise on its excellent strategic and industrial position. We have raised our 2022–2024e forecasts once again and reiterate our BUY, and have raised our target price to NOK25 (21). We view Smartoptics as a quality microcap with >110% upside potential.
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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