We reiterate our Accumulate recommendation and EUR 9.10 target price. After a financing agreement made in April 2018 we believe that Hoivatilat has good preconditions to continue growing strongly and profitably as seen in recent years, thanks to the strong demand drivers on the markets. According to our view, the market undervalues the company’s development business and we see clear upside potential in the valuation.
Trade. (Hoivatilat)
Suomen Hoivatilat is a service company that specialises in producing, developing, owning and leasing out nursing homes, day care centres, service blocks and schools. Hoivatilat offers high-quality and cost-effective leased care premises solutions for early childhood education and other care services, primarily to private service providers, but also to municipalities. The Hoivatilat model gives the user of the premises access to a turnkey solution based on a single agreement.