Moving to the right direction
We raise our target price to €1.35  - we expect CapMan to continue its profit improvement in upcoming years and the profit mix will continue to move towards the management business which supports the acceptable valuation through a lower risk profile.Despite the recent rally in share price the valuation of the share is still lucrative and a growing almost 7% dividend yield offers strong return while waiting for the profit improvement to realizeÂ
CapMan Oyj. CapMan Oyj is a Finland-based holding company for investment and specialized asset management group. The Company has two operating segments: Management Company & Services business and Investment business. In its Management Company & Services business, the Company manages private equity funds that are invested by its partnership-based investment teams. Targets for investments are Nordic and Russian mainly unlisted companies and Nordic real estate. Also, the Company offers fund advisory services, fundraising advisory and procurement services. Through its Investment business, the Company invests from its own balance sheet in the private equity asset class and listed markets in a diversified manner. Targets for investments in this segment are mainly own funds and Nordic growth companies.
Inderes was founded 2009 and is a company that focuses on equity research. Our goal is to contribute to the functioning of the capital markets by acting as an information link between companies and investors. We are one of the largest equity research teams in Helsinki with the strength of 9 professionals. Inderes Equity Research is an award-winning equity research team, which is independent from banking activities. Several of our analysts are top ranked on the Bloomberg BARR-ranking and have won several Starmine rewards. Our company is majority-owned by the staff.
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