Added to YB: 2026-03-16
Pitch date: 2026-01-17
KAR.ST [bullish]
Karnov Group AB (publ)
-31.2%
current return
Author Info
No bio for this author
Company Info
Karnov Group AB (publ) provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.
Market Cap
SEK 7.6B
Pitch Price
SEK 106.40
Price Target
194.00 (+165%)
Dividend
N/A
EV/EBITDA
5.74
P/E
8.14
EV/Sales
3.33
Sector
Interactive Media and Services
Category
growth
Karnov Group AB - $KAR.ST
KAR.ST: Legal info services leader in Denmark/Sweden benefiting from AI-driven productivity shift. Proprietary content enables 40% premium AI packages & workflow tools, driving organic growth to ~10% (double conventional) w/ 1+ ppt annual margin expansion in Region North (52% EBITDA margin). Spain turnaround & asset disposals add upside. Take-private appeal given recurring revenue & Nordic dominance. Base case PT SEK 194 (83% upside), Bull SEK 245. Risks: adoption pace, monetization durability.
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