reports
- Ole Martin Westgaard
KID (Buy, TP: NOK175.00) - Well-knit growth story
Kid reported Q4 results in line with consensus, as it continues to see strong results from its growth initiatives. We expect the strong growth trend to continue into 2025, and reiterate our BUY and NOK175 target price, as we believe the current valuation does not fully reflect its superior growth prospects and profitability.
- Ole Martin Westgaard
KID (Buy, TP: NOK175.00) - Q4 margins a tad soft
We consider this a neutral to slightly negative report for Kid, including EBIT in line with consensus but below our forecast. We expect minor negative revisions to consensus 2025e EBIT and believe a neutral to slightly negative share price reaction is warranted.
- Ole Martin Westgaard
KID (Buy, TP: NOK175.00) - Surpassing high expectations
In its Q4 trading update, Kid reported strong sales, above consensus and our estimates, despite tough comparables. Our Q4e EBIT of NOK366m is 10% above consensus, and we have increased 2024–2025e EPS by 8–4% following the update. We reiterate our BUY and have raised our target price to NOK175 (165) on increased estimates.
- Ole Martin Westgaard
KID (Buy, TP: NOK165.00) - Strong Q4 sales
Kid reported Q4 revenues above consensus and our estimate, driven by a strong performance from Hemtex, while Kid Interior revenues were broadly in line with our expectation. We expect c10% positive revisions to consensus 2024e EPS and believe a corresponding positive share price reaction is warranted.
- Ole Martin Westgaard
KID (Buy, TP: NOK165.00) - Soft goods, strong growth potential
We reiterate our BUY and NOK165 target price, as we believe Kid’s superior growth prospects, profitability, and historical track record are still not reflected in its valuation. We expect the Q4 results to be broadly in line with consensus.
- 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.
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