Solon Eiendom (Buy, TP: NOK32.00) - Cementing 2021
Solon’s updated Q3 sales figures showed that homes under construction reached 374 units, implying it started 211 homes, thus its Ski developments are launched. The Q3 figures, due 7 November at 08:00 CET, will be its second largest quarter in 2018e in terms of both deliveries and profits. However, the focus will be on its ski developments and newly formed JV with Aspelin Ramm seeking to buy the NRK plot in Oslo. We reiterate BUY, but have cut our target price to NOK32 (33) on trimmed forecasts and peer valuations.Solon Eiendom is a biotechnology company. Co.'s focus is the research and development of peptide based vaccines against viral diseases, primarily human immunodeficiency virus (HIV). As of Dec 31 2013, Co.'s clinical development pipeline comprised of two vaccine candidates for the treatment of HIV, Vacc-4X and Vacc-C5. Vacc-4X is being investigated in two phases II trials in collaboration with Celgene Inc.
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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