Speqta: Mixed Corona-Crisis Impact
Research Note
2020-04-03
07:36
Redeye lowers its short-term estimates and valuation in Speqta. We believe the current loan market decline outweighs positive e-commerce growth. Long-term, we think Speqta is well-positioned to benefit from an accelerated online penetration following the corona-crisis. The stock is trading close to our bear case, pricing in a pessimistic scenario.
EP
KL
Eddie Palmgren
Kristoffer Lindström
Disclosures and disclaimers