Stillfront Group: Marketing Returns Through the Roof
Research Note
2020-06-12
10:13
Redeye's positive view of Stillfront's is enhanced further following the trading update for April to May. The company has seen a solid return on marketing campaigns during April and May, and despite having steep expectations on Q2, the preliminary figures exceed those. We adjust our Q2 and full-year estimates upwards and raise our Base-case valuation.
KL
TO
Kristoffer Lindström
Tomas Otterbeck
Disclosures and disclaimers