Västra Hamnen: Hövding - Showing resilience

Västra Hamnen Corporate Finance has released a research update on Hövding. Last month, Hövding released its financials for the second quarter, and it contained several promising highlights. We believe the long-term outlook has improved and therefore raise our valuation interval to SEK 18.40 – 26.30 per share, writes Västra Hamnen.
 

• Swedish sales growth makes us revise up our long-term sales forecast
• Completed rights issue of SEK 61 million
• We raise our valuation interval to SEK 18.40 – 26.30 per share

Hövding recently raised around SEK 61 million through a fully guaranteed rights issue, which was oversubscribed as subscriptions totaled 174 percent of the issue. The issue is said to secure the financial situation of the company, which we believe is crucial during uncertain times as these. Last month the company released its financials for the second quarter, and it contained several promising highlights. We believe the long-term outlook has improved and therefore raise our valuation interval to SEK 18.40 – 26.30 per share.

The full report is available here.

The research report is prepared as part of Market Focus, Västra Hamnen Corporate Finance's commissioned research offering.

This is a press release from Västra Hamnen Corporate Finance AB. 
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