Schibsted Q4 results were somewhat below estimates, but trends remain fairly intact from Q3. We continue to find the “stub” (excluding the Adevinta ownership) attractive. Also, M&A optionality over time for Adevinta remains a long-term catalyst that we believe investors put little value on. In the coming months, we expect Schibsted to pursue online classifieds acquisitions in the Nordics to strengthen its Nordic classifieds segment. We maintain our Buy rating.
14 Feb 2020
Q4: Every cloud has a silver lining
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Q4: Every cloud has a silver lining
Schibsted Asa Class A (XPG:FRA) | 0 0 0.0%
- Published:
14 Feb 2020 -
Author:
Henriette Trondsen -
Pages:
15
Schibsted Q4 results were somewhat below estimates, but trends remain fairly intact from Q3. We continue to find the “stub” (excluding the Adevinta ownership) attractive. Also, M&A optionality over time for Adevinta remains a long-term catalyst that we believe investors put little value on. In the coming months, we expect Schibsted to pursue online classifieds acquisitions in the Nordics to strengthen its Nordic classifieds segment. We maintain our Buy rating.