AutoStore , founded in 1996 and listed since 2021 in Norway, provides robots and technology to automate traditional warehouses.
The company has grown to control approximately 80% to 90% of the market, according to German investment bank Berenberg.
The investment bank initiated coverage with a price target of 15 Norwegian kroner ($1.37), pointing to roughly 50% upside from the current share price level.
Analysts at Norway-based Arctic Securities have the most bullish outlook with an 18 Norwegian krone price target, indicating a 78% upside.
Instead, they cited media reports that Amazon will likely rely on AutoStore's technology in its grocery rollout in the United States.
Persons:
Lasse Stueben, Stueben, Martin Wilkie, Berenberg
Organizations:
Citi, THG plc, Securities, Big Tech
Locations:
AutoStore, Norwegian, Norway, Germany, Europe, British, United States