reports
Håkon Astrup
- Håkon Astrup
Profitable growth set to continue
Q2 ROE was 39% and PTP was NOK532m, broadly in line with our estimates. We have increased our 2018–2019e EPS by 1%. The stock is trading at 8.0x 2018e EPS, with prospects of continued lending growth at attractive margins and improving cost efficiency, we believe. We reiterate our BUY recommendation and have increased our target price to NOK115 (NOK110).
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