GN Store Nord AS

GN: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 953.00	Bzlqn	Pyjcprrj

GN Store Nord Earnings: Enterprise Recovery Delayed

Alex Morozov

Aug 22, 2024

We're maintaining our DKK 270 fair value estimate for GN Store Nord following its release of second-quarter results. While results on the surface were in line with our forecast, management is now pushing back recovery in enterprise toward the end of the year rather than the second half. The company continues to show a gradual improvement in its profitability and financial leverage. At current levels shares are undervalued.

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