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ABGSC Construct. & Real Estate Research ... (+3)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
ABGSC Construct. & Real Estate Research ... (+3)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
ABGSC Construct. & Real Estate Research ... (+3)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
ABGSC Construct. & Real Estate Research ... (+3)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson

Accretive merger

Refinancing of KMC debt will be a major positive. CEPS growing at 2x sector average in 2025e. Target price up to SEK 20 (14), reiterate HOLD.

ABGSC Construct. & Real Estate Research ... (+4)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
  • Viktor Stenlöf
ABGSC Construct. & Real Estate Research ... (+4)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
  • Viktor Stenlöf

Poised for growth with LTV metrics intact

Net LTV flat q-o-q due to equity raise. Short track-record causes concern for occupancy. We maintain HOLD, TP SEK 14 (13).

ABGSC Construct. & Real Estate Research ... (+4)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
  • Viktor Stenlöf

Sweden is set for a comeback

Swedish economy set to outperform in 2025, with buoyant conditions for real estate. Tables have turned since January – more BUYs than SELLs.

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