ABG Sundal Collier takes up coverage of Huddly. According to TDN Direkt, this has resulted in a buy recommendation and a price target of NOK 24.
Meglerhuset, which also helped with the listing of Huddly, expects an investment boom in new video conferencing equipment for offices when the global workforce returns to its offices from the second half of 2021. The number crunchers estimate a 41 percent annual growth in video conferencing from 2020 to 2023.
According to TDN Direkt, ABG Sundal Collier emphasizes that Huddly is currently trading on 2021 and 2022 estimates for company value / ebit of 22 and 13.5, which ABG writes is 50 per cent lower than other Nordic comparable companies.
The analyst believes this discount is unfair as the company has significantly higher growth.
On Friday, the share is traded for NOK 15.14, up 6.6 percent. In order for the price target to be met, the share must rise by almost 60 per cent.
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