In this equity report, analysts Oscar Johannesson and Panu Pikkanen evaluate BTS group. If you want to get in touch with the analysts, please send an email to Please click on the picture below in order to access the full report.

Aggressive Acquisition History – Coach in a Box & MTAC Acquired during Q4. BTS recently acquired the British company Coach in a Box and the German based consultancy firm MTAC GmbH. These acquisitions are expected to drive up revenue with approximately 12% in 2018.

Expected Higher Profit Margin in 2018 – U.S. Congress Passing G.O.P. Tax Bill. BTS generate about half of its total sales in the U.S. In December, the U.S. Congress passed a new Tax Bill cutting the corporate tax rate from 35% to 21%. This new tax reform is expected to have a significant positive impact on BTS future earnings.

Strong Annual Growth – BTS Expected to Take Additional Market Shares. BTS has experienced an average growth of 11% over the past ten years, which almost is three times as fast as the market.

Probability Weighted DCF Implies up to 51% Upside. Combining bull, base and bear scenarios implies an upside of 50,74% to the current price even with fairly conservative assumptions, revealing healthy potential for return.

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