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Internationella Engelska Skolan I Sverige Holdings II AB: 1 director s...

A director at Internationella Engelska Skolan I Sverige Holdings II AB sold 26,647 shares at 82.000SEK and the significance rating of the trade was 78/100. 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 ...

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Terminating coverage

ABGSC terminates coverage of Int. Engelska Skolan BUY is our final recommendation SEK 100 is our final target price

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - COVID-19 risk increases in Spain

Second wave of COVID-19 in Spain Less willingness for lock-downs this time Potential impact on EBIT 1.4%-13.7% ’20e/’21e

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Solid start to the new school year

Q4 adj. EBIT beat driven by Spain Positive revisions of 3% on adj. EBIT level Increasing our TP to SEK 100 (94)

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - 2020/21 looking promising

Q4 EBIT beat driven by Spain Solid start to the new school year Revised financial targets

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Growth journey continues

Temporary COVID-19 setback in Spain Soft Q4 expected, long-term case intact We like the ’20/’21e outlook, raising TP to SEK 94 (84)

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Spain excels pre COVID-19

Lower vouchers in Sweden, but demand keeps growing More acquisitions expected in Spain long-term Pipeline of new schools stands strong

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Spanish setback, but long-term case ...

Spain segment suffers setback Revisions stem from Spanish uncertainty Reiterate BUY, TP of SEK 84 unchanged

Casper Blom ... (+11)
  • Casper Blom
  • Daniel Thorsson
  • Edvard Hagman
  • Erik Moberg
  • Jannick Lindegaard Denholt
  • Lukas Daul
  • Mads Thinggaard
  • Oskar Vikström
  • Petter Nystrøm
  • Stefan Knutsson
  • Victor Forssell

Talking Points - Sydbank (Hold): De-risked bank in good health for COV...

Getinge (Hold) Estimate changes: Net positive 2020 Sydbank is well-positioned on capital and MREL Upgrade to HOLD (Sell); TP down to DKK 105 (125)

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Spanish exposure most at risk

Swedish compulsory schools still operational We expect limited top-line risk even if schools close Reiterate BUY with TP of SEK 84 (95)

Casper Blom ... (+10)
  • Casper Blom
  • Erik Moberg
  • Jan Erik Gjerland
  • Jonas Bru Lien
  • Laurits Kjærgaard
  • Mads Thinggaard
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Stefan Knutsson
  • Victor Forssell

Talking Points - Tomra (Hold): Earnings momentum set to increase

AP Møller Maersk (Hold) Post-results: Blindfolded guidance Improved earnings momentum ̶ Q1 likely to be solid Rating up to HOLD (Sell); TP up to NOK 340 (185)

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Revenue visibility is excellent

Q4 stronger than expected, solid outlook Raising margin assumptions in Sweden Reiterate BUY with new TP of 95 (85)

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - M&A story in Spain grows stronger

12% sales growth, o/w 10% organic Voucher increases of ~2% (3%) in 2020 Spanish school market is fragmented

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - ESG profile

Engelska Skolan’s education targets involve the company performing at the top of its class. It outperforms municipal schools in grade measures, which we consider as an indication that IES provides quality education, one of the UN’s 17 ESG targets. IES also has a higher correlation between grades and results in the national tests, which further strengthen the quality education case in our view. ESG profile

Anders Idborg ... (+6)
  • Anders Idborg
  • Fredrik Ivarsson
  • Magnus Andersson
  • Olof Cederholm
  • Peter Kurt Nielsen
  • Stefan Knutsson

Talking Points - AcadeMedia (Hold): Disappointing voucher increases fo...

Tele2 (Sell) Post-results comment: Q4e: In line with trend Long-term preschool case still attractive Down to HOLD on short-term risk and strong share

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Spain growing in importance

Signs of untapped margin potential in Spain New CEO in place, has geo. expansion in the toolbox Up to BUY on recent acquisitions and sales transparency

Aksel Øverland Engebakken ... (+4)
  • Aksel Øverland Engebakken
  • Casper Blom
  • Lukas Daul
  • Stefan Knutsson

Talking Points - NKT (Hold): Time to fix the balance sheet

Photonics now officially for sale Target increased due to peer multiple expansion

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Solid start to the school year

EBIT miss caused by Spain, will recover FY Slightly negative revisions excl. IFRS 16 Reiterate HOLD – TP 75 (77)

Stefan Knutsson ... (+2)
  • Stefan Knutsson
  • Victor Forssell

Internationella Engelska Skolan - Looks weaker than it is

Spain cause EBIT miss, will recover FY Solid queue development, +10% y-o-y Vallentuna postponed on higher interest

Aksel Øverland Engebakken ... (+5)
  • Aksel Øverland Engebakken
  • Jan Erik Gjerland
  • Jannick Lindegaard Denholt
  • Morten Raunholt Eismark
  • Stefan Knutsson

Talking Points - Novo Nordisk (Hold): What to expect from the upcoming...

Ambu (Sell) Post-results: Yet another round of big strategic changes …will shed light on the entire business, but key focus… …to be on Rybelsus and Region IO growth prospects

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