Kindred Group (Buy, TP: SEK62.00) - Signs of resilience
We reiterate our BUY and have raised our target price to SEK62 (60), reflecting our new estimates (2021–2022e EPS raised by 4% due to strong casino revenue). Kindred is showing good resilience to the Covid-19 crisis: daily revenue is down just 12% YOY despite suspended sports events (sports betting typically makes up 50% of revenue). Long-term growth prospects remain attractive to us and we see room for more acquisitions.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.