Otello’s Q3 figures were slightly below our estimates. AdColony was in-line with our estimates, while Bemobi came in slightly below. We continue to view Otello as a break-up-case, as its segments share no synergies, which could give potential upside to our target price. The focus in the coming months should be on the preliminary filing for an IPO of Bemobi in Brazil. We maintain our Hold rating but increase our target price due to AdColony.
28 Oct 2020
Q3: Break-up-case and focus on Bemobi IPO
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Q3: Break-up-case and focus on Bemobi IPO
Otello Corporation ASA (OTEC:OSL) | 0 0 0.0%
- Published:
28 Oct 2020 -
Author:
Henriette Trondsen -
Pages:
11
Otello’s Q3 figures were slightly below our estimates. AdColony was in-line with our estimates, while Bemobi came in slightly below. We continue to view Otello as a break-up-case, as its segments share no synergies, which could give potential upside to our target price. The focus in the coming months should be on the preliminary filing for an IPO of Bemobi in Brazil. We maintain our Hold rating but increase our target price due to AdColony.