Svenska Handelsbanken (Buy, TP: SEK105.00) - Adapting its physical presence
We have raised our 2021–2022e EPS by 2–3% on SHB’s announcement that it plans to cut its branches by almost half by 2022. Hence, we have raised our target price to SEK105 (103) and reiterate our BUY.
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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