Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

Offering full year guidance with solid growth is, we believe, a sign of management’s confidence in both Atea’s business model and the group’s customer base during these uncertain times. It is also worth noting Atea’s significant borrowing capacity (c NOK5.1bn) should market conditions create any investment opportunities. Alternatively, investors could see the group’s strong financial position as reassuring balance sheet strength behind the attractive dividend yield.

Offering full year guidance with solid growth is, we believe, a sign of management’s confidence in both Atea’s business model and the group’s customer base during these uncertain times. It is also worth noting Atea’s significant borrowing capacity (c NOK5.1bn) should market conditions create any investment opportunities. Alternatively, investors could see the group’s strong financial position as reassuring balance sheet strength behind the attractive dividend yield.

Atea — FY25 guidance, with hopes in Denmark

Atea’s solid Q424 results illustrate how management continues to navigate challenging markets successfully. Atea’s prospects look more positive for 2025, with IT infrastructure trends remaining strong. Demand seems to have stabilised and changes in the customer mix during 2024 should make current-year margin comparables easier. Consensus forecasts suggest the shares trade at a discount to peers, yet a strongly cash-generative Q424 leaves Atea with a strong balance sheet, supporting an attractive dividend yield by sector standards.

Atea’s solid Q424 results illustrate how management continues to navigate challenging markets successfully. Atea’s prospects look more positive for 2025, with IT infrastructure trends remaining strong. Demand seems to have stabilised and changes in the customer mix during 2024 should make current-year margin comparables easier. Consensus forecasts suggest the shares trade at a discount to peers, yet a strongly cash-generative Q424 leaves Atea with a strong balance sheet, supporting an attractive dividend yield by sector standards.

Atea — Q4 delivers in challenging markets

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Global markets are holding at support levels and we reiterate, our neutral but constructive outlook . In today’s report we highlight actionable stocks within countries that are displaying bullish price and relative strength trends, including Japan, Hong Kong, Italy and Norway.

Global markets are holding at support levels and we reiterate, our neutral but constructive outlook . In today’s report we highlight actionable stocks within countries that are displaying bullish price and relative strength trends, including Japan, Hong Kong, Italy and Norway.

Global Equity Strategy: Overweight TOPIX, Hang Seng

Norway

Atea ASA is a Nordic and Baltic supplier of IT infrastructure. Atea delivers IT products from vendors and assist its customers with IT infrastructure services.

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