reports
- Ole Martin Westgaard
KID (Buy, TP: NOK165.00) - Geared up for busy Q4
The Q3 results fell short of expectations due to higher costs, largely related to timing. We have lowered our target price to NOK165 (180) on reduced estimates, but reiterate our BUY. We continue to find the valuation attractive, with the stock trading in line with Nordic retail peers despite its superior growth prospects.
- Ole Martin Westgaard
KID (Buy, TP: NOK180.00) - Weak Q3
We consider this a weak report, with figures below expectations primarily on higher costs, weak cash flow due to a significant inventory build, a DPS below expectations and no material change in outlook. We expect a 5% negative revision to consensus 2024 EBIT and believe a 5–10% negative share price reaction is warranted.
- Ole Martin Westgaard
KID (Buy, TP: NOK180.00) - Q3 revenues below expectations
Kid reported Q3 revenues below consensus and our estimates. Both segments missed expectations on LFL growth, but the vast majority of the shortfall was in Hemtex, which faced a challenging comparable this quarter due to the company’s 50-year anniversary last year. We expect 2% negative revisions to consensus 2024e EPS and believe a negative share price reaction is warranted.
- Ole Martin Westgaard
KID (Buy, TP: NOK180.00) - Set for continued outperformance
We are positive ahead of the Q3 results, expecting continued EBIT growth YOY despite tough comparables due to the Hemtex 50-year anniversary campaign last year. We forecast Kid to continue to outperform the market, driven by its strategic growth initiatives. We reiterate our BUY and NOK180 target price.
- Ole Martin Westgaard
KID - Initiation of coverage - Top kid on the block
With a proven track record, leading market position, superior-to-peers profitability and growth outlook buoyed by significant TAM expansion, we believe Kid’s recent robust growth is set to continue. We initiate coverage with a BUY and NOK180 target price.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.