Airthings (Buy, TP: NOK21.00) - Particularly good opportunity

While the headline results missed expectations due to channel adjustments, there were several datapoints indicating underlying momentum remains solid. Thus, we expect accelerated growth in Q2 and continued acceleration in take-up among enterprise customers to set the recent share price decline up as a particularly good buying opportunity. We reiterate our BUY and NOK21 target price.

Airthings (Buy, TP: NOK21.00) - Continued enterprise momentum to garne...

We have made negligible estimate changes prior to Airthings’ Q1 report. We expect continued momentum across its segments, especially for Airthings for Business, which we expect to serve as a catalyst for investor appreciation of the company’s potential. We reiterate our BUY and our NOK21 target price.

Airthings (Buy, TP: NOK21.00) - Accelerating momentum for AfB

In Q4 Airthings continued to deliver on its key strategic objectives, with solid growth and accelerating momentum in AfB (Airthings for Business), leading us to lift our top line slightly for 2021–2023e. We have thus raised our target price to NOK21 (20), and reiterate our BUY.

Airthings (Buy, TP: NOK20.00) - Expecting continued momentum

We have made only minor estimate revisions and are slightly above consensus ahead of the Q4 results. We expect the company to continue to demonstrate its unique momentum derived from increasing demand among consumers, the public sector and business for improved indoor air quality and building energy efficiency, and therefore reiterate our BUY and NOK20 target price.

Northern Lights

Airthings (Buy, TP: NOK20.00) - Tackling the invisible killer

With patent-protected technology and a cloud-based services offering, enabling consumers and enterprises to improve indoor air quality and dramatically reduce their environmental footprint in commercial buildings, we view Airthings as uniquely positioned to take advantage of a very large addressable market. We initiate coverage with a BUY and a NOK20 target price.