Raketech: No drama in Q2; H2 2022 looks promising - Nordea
Detta är en aktieanalys producerad av tredje part och reflekterar därför nödvändigtvis ej våra åsikter och värderingar
As the Q2 report and the trading update for Q3 did not contain any surprises, we leave our 2022-24 estimates almost unchanged. We expect organic growth to return to positive territory (16%) from Q3 onwards as sporting activity is expected to accelerate towards the end of the quarter supported by the NFL season start in mid-September. We forecast organic growth and scalability effects in H2, mainly due to acquisition synergies, a hectic sporting calendar and the FIFA World Cup. We trim our fair value range to SEK 20.2-29.8 (SEK 21.1-31.1), reflecting 2022E EV/EBIT of 7-10x. Marketing material commissioned by Raketech Group Holding.