Investor AB B

Investor AB is an industrial holding company. Through its subsidiaries, Co. invests in companies and industries. Co.'s holdings are divided into two business areas: Core Investments and Financial Investments. Core Investments consists of listed holdings, in which Co. is a major owner, and its wholly-owned subsidiaries. Financial Investments consists of Co.'s investments in EQT and Investor Growth Capital, its partner-owned investments and other investments and activities.
  • TickerINVE B
  • ISINSE0000107419
  • ExchangeNasdaq Nordic Stockholm
  • SectorFinancial Services
  • CountrySweden

Analysts

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) we keep our SELL recommendation on Lundbergs, as we forecast muted NAV growth for 2020; 2) Bure proposed a 2019 DPS of SEK2.5 (25% YOY growth); and 3) Latour and Vostok New Ventures flexed their financial muscle by boosting their MTN programme and bond loans, respectively.

Joachim Gunell

The weekly navigator

Key takeaways from last week include: 1) despite an impressive performance in Q4, we still find Latour’s 20% premium to reported NAV lofty; 2) Vostok New Ventures (VNV) reported impressive 13% NAV growth in Q4; and 3) Kinnevik committed to invest SEK150m in MatHem.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) we have upgraded Kinnevik to BUY (HOLD) as we have gained increased confidence on its ability to crystallise values from its growth portfolio; 2) we stay on the side-line in Industrivärden following an uneventful Q4 report; and 3) Ratos are taking steps in the right direction, but the turnaround in Plantasjen could take a while longer.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Latour continues to execute on its systematic M&A agenda; 2) Kinnevik’s main shareholder Cristina Stenbeck comments on her private investment portfolio to Dagens industri; and 3) Lundbergs’ 8% premium to NAV screens as rich, but it would trade in line with NAV if applying P/NAV peer multiples to its unlisted real estate operations.

Joachim Gunell

The weekly navigator

Key takeaways from last week include: 1) Investor remains a sector top pick following its Q4 report; 2) Kinnevik-owned Monese could reach unicorn status, according to media speculation; 3) we hosted Vostok New Ventures for a lunch presentation at our Stockholm office; and 4) Creades’ proposed DPS of SEK24.50 (5% yield) was a positive surprise to us.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) we keep our SELL recommendation on Lundbergs, as we forecast muted NAV growth for 2020; 2) Bure proposed a 2019 DPS of SEK2.5 (25% YOY growth); and 3) Latour and Vostok New Ventures flexed their financial muscle by boosting their MTN programme and bond loans, respectively.

Joachim Gunell

The weekly navigator

Key takeaways from last week include: 1) despite an impressive performance in Q4, we still find Latour’s 20% premium to reported NAV lofty; 2) Vostok New Ventures (VNV) reported impressive 13% NAV growth in Q4; and 3) Kinnevik committed to invest SEK150m in MatHem.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) we have upgraded Kinnevik to BUY (HOLD) as we have gained increased confidence on its ability to crystallise values from its growth portfolio; 2) we stay on the side-line in Industrivärden following an uneventful Q4 report; and 3) Ratos are taking steps in the right direction, but the turnaround in Plantasjen could take a while longer.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Latour continues to execute on its systematic M&A agenda; 2) Kinnevik’s main shareholder Cristina Stenbeck comments on her private investment portfolio to Dagens industri; and 3) Lundbergs’ 8% premium to NAV screens as rich, but it would trade in line with NAV if applying P/NAV peer multiples to its unlisted real estate operations.

Joachim Gunell

The weekly navigator

Key takeaways from last week include: 1) Investor remains a sector top pick following its Q4 report; 2) Kinnevik-owned Monese could reach unicorn status, according to media speculation; 3) we hosted Vostok New Ventures for a lunch presentation at our Stockholm office; and 4) Creades’ proposed DPS of SEK24.50 (5% yield) was a positive surprise to us.

Joachim Gunell ...
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Frank Maaø
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Håkon Astrup ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Mattias Montgomery
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

INVESTOR AB sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of INVESTOR AB (SE), active in the Specialty Finance industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 12, 2018, the closing price was SEK 380.70 and its target price was estimated at SEK 361.66.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Investor AB - AGM 08 May 2019

In general, Investor is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 13a, the nomination committee seeks approval of the remuneration of the board of directors. Although the proposed fees are conform to Swedish market practice, ECGS does not approve of the partial payment in synthetic shares. Hence, ECGS recommends to vote OPPOSE. Under ITEMS 14a-14k, the (re-)election of the board of directors is proposed. In view of insufficient independent representation on the board of directors as well as concerns over ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

More cracks begin to show Weaker than expected data out of China and an as-expected 0.1% preliminary GDP contraction for the 2nd quarter in Germany has global equities back on the defensive, with the MSCI ACWI, ACWI ex-US, and EAFE back near logical support. In last week's Int'l Compass we noted that some cracks are beginning to show in the form of STOXX 600 Banks and Brent crude breakdowns, which led us to believe global equities are vulnerable to a breakdown. Below we highlight more cracks that are showing, which only increases the likelihood that equities may be poised to break down. • Mo...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities in Europe, Japan As markets pull back amid the tariff saga we continue to believe this is an attractive time to add exposure. This view is supported by the technicals with all major global indexes (MSCI ACWI, ACWI ex-U.S., EAFE, and EM) pulling back to their respective 200-day moving averages... see charts below. • Actionable Sectors: Services and Consumer Staples in Europe and Japan. We often view the Services Sector as a defensive way to invest in Technology. We also highlight several Consumer Staples stocks within Europe (the STOXX 600 Food & Beverage index remains leadersh...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

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