Intrum AB reports its Q1 figures on April 29th and we look forward to an operational update from the company. Intrum offers an attractive dividend yield of 4.5% and in addition a Nordic exit would entail a re-rating. We have lowered 2021e EPS 3% as we believe the first half of 2021 still entails some headwind, but have upped our 2022e EPS 4% and roll out our 2023 estimates implying an EPS of SEK 36. We reiterate our Buy rating and increase our target price to SEK 330 (315).
