Three Directors at Modern Times Group AB bought/maiden bought 3,152 shares at 6.574SEK. The significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the ...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
>Lower than expected organic growth and EBITA. Disappointing FCF - Tietoevry reported its Q1 2024 results yesterday before market opening. Organic growth was -2.0% year-on-year (vs. ODDO BHF estimate of -0.2%), which represents a slowdown relative to 1% in Q4. Growth was impacted by a poor performance in 1/ Tech Services (organic growth of -7% vs. ODDO BHF estimate of -4.8%); 2/ Create (organic growth of -5% vs. ODDO BHF estimate of -0.7%), due to the ongoing weak eco...
>Croissance org. et EBITA, inférieurs aux attentes. FCF décevant - TietoEVRY a publié hier avant Bourse ses résultats T1 2024. La croissance org. ressort à -2.0% y/y(vs ODDO BHF :-0.2% org), en décélération par rapport au T4 (1% org.). La croissance a été impactée par une faible performance sur les segments 1/ Tech Services (-7% org. vs ODDO BHF : -4.8% org.); 2/ Create (-5% org. vs ODDO BHF : -0.7% org.), en raison de la faiblesse persistante de l'environnement écon...
Q1 disappointed due to Building & Technical Trade (BTT) profitability well below expectations. We continue to see a mixed case, with stable to gradually improving Grocery Trade (GT) but still-weak Building & Technical Trade. We reiterate our HOLD but have cut our target price to EUR17 (18), after lowering our 2024–2026e clean EBIT and DPS by c4%.
We reiterate our BUY and have raised our target price to SEK120, following a >10% earnings beat in Q1. MTG gave a cautious revenue growth outlook for 2024 (+1-5% YOY) but with positive adj. EBITDA margin guidance (26–29%). It announced SEK100m of buybacks, with more likely to come following the AGM on 16 May. We have raised our 2024–2025e EBITDA by c3% and continue to like the MTG story, with market growth, good cost control and the ~SEK3bn net cash position.
Q1 earnings were stronger than we expected, with no negative surprises. We believe consensus for the coming years looks realistic and that Getinge’s valuation (despite the recent share price rise) looks attractive. Thus, we have upgraded to BUY (HOLD) and have raised our target price to SEK255 (210).
Despite a delay in our mix-driven earnings and FCF rebound case, Ericsson’s Q1 gross margin showed early signs of trends we believe should accelerate through 2024 and ultimately drive Infront consensus EPS revisions closer to our full-year adj. EBITA (17% above consensus), potentially triggering a re-rating. In our view, Ericsson’s soft market outlook commentary and implicit Q2 guidance should be seen in light of its ongoing union negotiations in Sweden amid lay-offs. We reiterate our BUY and SE...
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