B2Holding’s Q4 report is due on February 28th and we are particularly looking forward to an update on the ongoing strategic review. We have lowered Q4 EPS 47% following expectations of restructuring costs of around NOK 50m as a result of the ongoing strategic review. We continue to review risk reward as attractive and see an upside in B2H taking part in a consolidation in the industry over the next couple of years, we increase target price to NOK 13 (12).
