Kindred Group (Buy, TP: SEK210.00) - Consensus snoozing through 2021
With our intact 2022e EPS forecast c20% above consensus, we expect a re-rating ahead. Kindred should continue to execute strongly on revenue growth, scale, and shareholder distribution. Q2 active customers +45% YOY bodes well for healthy underlying growth. We maintain our BUY and SEK210 target price.
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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