Verisec Going through changes
Verisec’s Q1 report was disappointing in our view, but we like that the divestment of non-core businesses lessens the financial risk and increases the margin and growth profile. We expect the stock to re-rate on greater Freja eID visibility in 2020, as we expect accelerated cloud security adoption driven by Covid-19. We have cut our fair value to SEK70–110 (80–120).Verisec AB is a Sweden-based company which provides security solutions for banking, government and business customers.
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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