Här är en ny analys av Enento till dig.
The past few years have been challenging for Enento, as weaker demand for consumer credit information due to structural changes in the Swedish market has driven down revenue and results. At the start of this year, the company returned to growth after a two-year downward trend and, despite the still somewhat cloudy outlook for the Swedish market, we expect the company to continue growing in the coming quarters and years. Following a modest increase in the share price, the valuation (2025e-2026e adj. P/E 19x-15x), has reached a neutral level, in our view, already carrying the promise of improved earnings in the coming years. We reiterate our EUR 17.5 target price but lower our recommendation to Reduce (previous Accumulate).