Collector AB (COLL) Collector - NII and stable cost base drives earnings beat
Q1 operating profit +15% vs. ABG, +27% vs. consensus NII and cost surprised positively in Q1 Expect the share to outperform the market today [...]
View ArticleCollector AB (COLL) Collector - Strong lending growth, strict cost control
2021-24e net profit CAGR of 12%... … with P/E <8x, 34% below its own history… …should be enough at the current levels - BUY [...]
View ArticleCollector AB (COLL) Collector - Tenth consecutive earnings beat vs. cons.
Strong income development behind earnings beat in Q2 Earnings scenario intact for ’22e-’24e, 12% EPS CAGR We reiterate BUY and our TP of SEK 55 [...]
View ArticleCollector AB (COLL) Collector - Strong NII development in Q2, up 17% y-o-y
Q2 operating profit +7% vs. cons. -3% vs. ABGSC NII surprised positively, up 17% y-o-y Cons. est. up ~4-7%, positive mid single-digit reaction [...]
View ArticleCollector AB (COLL) Collector Bank - Initiation of coverage - Consumption on...
Collector occupies an attractive corporate lending niche, supported by a profit-focused consumer-lending portfolio. We expect dividend payments to begin sooner than is reflected in consensus, but also...
View ArticleCollector AB (COLL) Collector - Reduced estimates on worsening macro outlook
Q3’22e operating profit of SEK 352m, up 38% y-o-y We take a more cautious view for 2023-24e Reiterate BUY, TP down to SEK 45 (55) [...]
View ArticleCollector AB (COLL) Collector Bank (Hold, TP: SEK25.00) - Come back in a year
We expect no great surprises in the Q3 results, with lending volumes, margins and credit losses all remaining relatively stable. In the past month, the stock has fallen c25% on likely increased...
View ArticleCollector AB (COLL) Collector - Strong NII growth drives 20% earnings beat
Q3 operating profit +20% vs. cons., up 47% y-o-y NII surprised positively, 3% above ABGSC, up 23% y-o-y Expect positive cons revisions of ~7-10%, share up today [...]
View ArticleCollector AB (COLL) Collector - Well capitalised with trough valuation - BUY
Q3 beat driven by strong NII growth 2023e-24e earnings down on increasing loan loss ratios BUY reiterated, TP cut to SEK 35 (45) [...]
View ArticleCollector AB (COLL) Collector Bank (Hold, TP: SEK26.00) - An uNIMpeded boost
The Q3 report was solid, with credit losses the only slight disappointment. The net interest margin was boosted significantly by the effect of higher interest rates; hence we expect upward revisions to...
View ArticleCollector AB (COLL) Collector Bank (Hold, TP: SEK36.00) - Ending the year on...
We expect the Q4 trends to be similar to those in Q3, with NIM and lending volumes in the Corporate and Real Estate segments boosted by high lending demand and increased interest rates. We believe...
View ArticleCollector AB (COLL) Collector Bank (Hold, TP: SEK42.00) - Bigger and better
The Q4 report was solid, with the net interest margin hitting a five-year high. While this was significantly boosted by lagging interest expenses, we still see it as positive for the interest-margin...
View ArticleCollector AB (COLL) Collector Bank (Hold, TP: SEK40.00) - Set for a repeat of...
We expect Q1 trends to be similar to those in Q4, but with net interest margins falling slightly QOQ on higher deposit competition. However, we expect demand for real estate and corporate loans to...
View ArticleCollector AB (COLL) Collector Bank (Buy, TP: SEK40.00) - I stand Collected
We reiterate our SEK40 target price but have upgraded Collector to BUY (HOLD). We find the risk in Collector’s real estate loan book overstated (illustrated in a 2024e P/E of 6x) after stress-testing...
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