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Urb-it: Delivering Cities From the Last-mile Problem - Redeye

Redeye initiates coverage of Urb-it, a Swedish green and sustainable last-mile delivery company, with a constructive stance.

Urb-it operates in France and the UK – markets that are seeing solid growth and several strong market trends, which we believe Urb-it is perfectly positioned to capitalize on– as it offers KPIs well-above industry average.

We initiate coverage of Urb-it with a base case of SEK 3.6 per share, for a fair value range of SEK 1.2 – SEK 7.6 per share. We consider Urb-it to be an attractive case, especially in the short term, as we expect news flow to be strong – coupled with Urb-it successfully raising SEK 82m through a directed share issue in December ’20 which should provide a foundation for the current expansion plan.
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