Storytel (Buy, TP: SEK250.00) - Hallmark 1% beat of guidance
Slightly exceeding the ambitious 40%+ growth guidance has become Storytel’s hallmark: we forecast a 44% subscriber CAGR from 2019 to 2023. Its leading catalogue and first-mover advantage is backed by solid technology and a supportive industry backdrop. We retain our BUY with a new target price of SEK250 (240).
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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