Category: <span>Fundamental Analysis</span>

Academedia (ACAD)

In this financial analysis report, analysts Felix Johansson and Keller Edstrand take a closer look at the Swedish education company Academedia. Academedia is set to benefit from various macro trends in the upcoming three years which, according to the analysts, motivates a revenue CAGR of 15.7% between 2022-2025E.

GARO Group (GARO)

In this financial report, analysts Elias Borg and Benjamin Holmén take a closer look at GARO Group (GARO), the Swedish developer and manufacturer of electrical installation components and electric vehicle chargers. The analysts expect revenue growth of 46% between 2021A-2023E. This is driven by underappreciated synergies, substantial market growth and a strong brand. Based on a peer and historical analysis, equally weighted, a target EV/EBIT of 26x is justified – implying a price per share of SEK 138.6, and a potential upside of 24.4% by 2023E.

NOTE AB (NOTE)

In this financial analysis report, analysts Lukas Forsman and Sofia Nordfjell take a closer look at the Swedish contract manufacturer NOTE. The analysts estimate a revenue CAGR of 19.6% between 2021A-2025E as a result of strong underlying market growth

Novus Group International AB (NOVU)

In this financial report, analyst Adrian Olsson and Axel Natt och Dag take a closer look at the Swedish market research company Novus Group. Novus has successfully managed to expose more of the business towards the profitable private sector which, according to the analysts, motivates a revenue CAGR of 11.2% in 2021-2023E and an EBITDA margin of 15.7% in 2023E.