Volvo AB Series B

Volvo is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. Co.'s activities are organized into six areas: Group Trucks, which sells and markets trucks under Eicher, Mack, Renault Trucks, UD Trucks and Volvo brands; Construction Equipment, which includes equipment for construction and related industries; Buses, which includes buses and bus chassis for city, intercity and coach traffic; Volvo Penta, which manufactures engines and drive systems for boats and commercial craft; Governmental Sales, which manufactures special-purpose vehicles; and Volvo Financial Services, providing customer financing and leasing, dealer financing and fee based products.
  • TickerVOLV B
  • ISINSE0000115446
  • ExchangeNasdaq Nordic Stockholm
  • SectorIndustrial Engineering
  • CountrySweden
Olof Larshammar

Volvo (Buy, TP: SEK180.00) - Full throttle in Trucks in Q3e

We are impressed by Volvo’s operational performance in Q2, as it proved the company’s resilience. This, combined with improving order intake and the prospect of continued strong cash flow generation in the coming quarters, should lift valuation multiples in our view. We believe Q3 could be a share price catalyst, as we expect high truck deliveries following strong orders in June and Volvo executing on its backlog. We reiterate our BUY with a new SEK180 (170) target price.

Christer Magnergård ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Ragnhild Støer
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Anders Idborg ...
  • Olof Cederholm

Volvo - The trough was not as bad as expected

Q2 adj. EBIT margin of 4.5% despite 39% sales decline We raise 2020-2021e adj. EBIT by 30% and 6% Keep BUY, increase TP to SEK 200 (180)

Anders Idborg ...
  • Olof Cederholm

Volvo - Earnings upgrades for both ’20-‘21

Q2 adj. EBIT SEK 3.3bn vs. expectations of break-even Strong Trucks and CE, SEK 3.2bn in savings for ‘21 Adj. EBIT likely revised up 25-30% for ‘20e, 5-7% for ‘21

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Pullback Opportunity Supporting our global bull market thesis, uptrends remain intact for the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM). At this point, concerns surrounding the Wuhan coronavirus have led to some market setbacks and deterioration in market indicators, however they have not resulted in breakdowns. This is true even for areas of the market most-directly affected, including China (MSCI China) and emerging markets (MSCI EM). For these reasons and, as long as there is no significant additional damage, we view recent weakness as a buying opportunity - especially ...

AB Volvo: 1 director bought

A director at AB Volvo bought 1,000,000 shares at 138.313SEK and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

Olof Larshammar

Volvo (Buy, TP: SEK180.00) - Full throttle in Trucks in Q3e

We are impressed by Volvo’s operational performance in Q2, as it proved the company’s resilience. This, combined with improving order intake and the prospect of continued strong cash flow generation in the coming quarters, should lift valuation multiples in our view. We believe Q3 could be a share price catalyst, as we expect high truck deliveries following strong orders in June and Volvo executing on its backlog. We reiterate our BUY with a new SEK180 (170) target price.

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Anders Idborg ...
  • Olof Cederholm

Volvo - The trough was not as bad as expected

Q2 adj. EBIT margin of 4.5% despite 39% sales decline We raise 2020-2021e adj. EBIT by 30% and 6% Keep BUY, increase TP to SEK 200 (180)

Anders Idborg ...
  • Olof Cederholm

Volvo - Earnings upgrades for both ’20-‘21

Q2 adj. EBIT SEK 3.3bn vs. expectations of break-even Strong Trucks and CE, SEK 3.2bn in savings for ‘21 Adj. EBIT likely revised up 25-30% for ‘20e, 5-7% for ‘21

Anders Idborg ...
  • Olof Cederholm

Volvo - Heads-up for report 17 July

Volvo will report Q2 on Friday 17 July at 7.20 CET. A conference call will follow at 9.00 CET, dial-in: Sweden: ; US: ; UK:

Christer Magnergård ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Ragnhild Støer
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Mattias Holmberg ...
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Karl-Johan Bonnevier
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Håkon Astrup ...
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Håkon Astrup ...
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

VOLVO AB sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of VOLVO AB (SE), a company active in the Commercial Vehicles & Trucks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 5, 2020, the closing price was SEK 153.00 and its potential was estimated at SEK 160.65.

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...

Volvo April 03th, 2019

In general, Volvo is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 14.1-14.10, the (re-)election of the board of directors is proposed.In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Ms. Martina Merz (ITEM 14.7). Under ITEM 18, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS is missing an actual LT component (with a performance measurement period of at least...

Volvo – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 05/04/2018

In general, Volvo is in compliance with the Swedish regulations relating the organisation and procedures of the Annual General Meeting. Under ITEM 13, the nomination committee proposes to increase the remuneration of the board of directors by about 3.0%. In ECGS' view the current fees are already at the upper level of Swedish market practice for a company with the size and complexity ofVolvo and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE. Under ITEMS 14.1-14.10, the (re-)electio...

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