Axactor reports Q3 on October 28th and we look forward to an update from the company. We have increased collections in 2H 2020 by EUR 15m ahead of Q3 following a swifter recovery than anticipated in July. Axactor now trades at a 2020e Price/Book of 0.45x, 10x 2021e EPS and 5x EV/Cash EBITDA. We continue to see higher risk and dependency on a few markets, but still find risk/reward attractive. We reiterate Buy and our NOK 9 target price for now.
18 Oct 2020
Lift collections, but still dependent on Spain
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Lift collections, but still dependent on Spain
Axactor ASA (ACR:OSL) | 0 0 0.0%
- Published:
18 Oct 2020 -
Author:
Joakim Svingen | Roy Tilley -
Pages:
11
Axactor reports Q3 on October 28th and we look forward to an update from the company. We have increased collections in 2H 2020 by EUR 15m ahead of Q3 following a swifter recovery than anticipated in July. Axactor now trades at a 2020e Price/Book of 0.45x, 10x 2021e EPS and 5x EV/Cash EBITDA. We continue to see higher risk and dependency on a few markets, but still find risk/reward attractive. We reiterate Buy and our NOK 9 target price for now.