Tomra (Hold, TP: NOK140.00) - Go green – an ESG perspective
Tomra is fully dedicated to sustainability and some ESG scores in our view fail to value the impact of Tomra’s products. In our view Tomra deserves a premium to its Nordic capital goods peers based on a higher sustainable growth rate due to ESG factors. As a result, we have upgraded our recommendation on Tomra to HOLD (SELL) with a new target price of NOK140 (120).Tomra Systems is a creator of sensor-based solutions for optimal resource productivity within the business streams of reverse vending, material recovery, compaction, recycling, mining, and food. Co.'s operating structure comprises two business areas and six business streams. The TOMRA Collection Solutions businesss area consists of three business streams: reverse vending, material recovery, as well as compaction. The TOMRA Sorting Solutions, business area consists of three business streams: food, recycling, and mining.
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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