Northbaze/Jays Group: Sound of a turnaround

Redeye initiates coverage of Northbaze/Jays Group, a powerful M&A/turnaround play in consumer Audio & Sound and Smart Mobility. The current valuation prices in limited expectations of the group’s future financial performance, whereas we argue that its intensified focus on high growth sub-segments in combination with sales and cost synergies have set Northbaze on course to achieve longer-term growth and profitability.