• (PLX AI) – Axactor shares fell more than 7% after the company reported a Q4 pretax loss and analysts at DNB downgraded the stock.
  • • Axactor was cut to hold from buy at DNB, with the price target cut to NOK 7 from NOK 10.50
  • • Q4 results were affected by negative portfolio reevaluations
  • • Axactor collection performance improved in Q4 and came in at 91% for the quarter and 97% in December
  • • However it didn't sufficiently improve to support the book value of the portfolios as collection performance should fluctuate around 100% over time, the company said
  • • The turnaround case is likely to take longer to realize, with market headwinds continuing, DNB said
  • • The Axactor investment case still has considerable uncertainty: DNB

Quelle: PLX AI