Primarily due to a generally soft sentiment within the Nordic e-commerce space, the BHG shares have plummeted close to 20% YTD and 12% over the last three months. With the AH deal adding ~5% to EPS, we believe that the stock is likely to come up by at least as much. Given the strong, non-Nordic profile of AH-trading, our best guess is that the stock could come up by 6-8% in Friday trading.
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