Fra Nordea – læs hele analysen her
CMD: Management continues to impress
Despite the lack of breaking news at Netcompany’s first CMD yesterday,
the equity market rewarded the company with a 5% share price reaction.
Our key takeaway was a very confident management team, who went
through the main reasons behind the impressive track record and why it is
set to continue. Ample growth opportunities lie ahead, and it’s delivery
model is to secure a continued strong performance, including the
establishment of Netcompany as an Emerging Northern European market
leader by 2022. We leave our peer group-based valuation unchanged at
DKK 280-325 per share, although we note that the positive price
performance by peers suggest a high-end valuation at 450 per share.
