DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

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Ticker Underlying First Report Latest Report
1Q6 CY0100470919 Prosafe S.E. 2017/08/24 2020/02/10
2LJ SE0005569100 Axactor SE 2017/07/20 2018/10/31
3TK MHY8565N1022 Teekay Tankers 2017/07/18 2020/02/12
A111D5 SE0005757267 Recipharm publ AB 2017/11/13 2020/02/24
A116X2 SE0005999760 Scandi Standard publ AB 2017/08/23 2020/02/11
A1W1K1 NO0010657448 Ocean Yield ASA 2017/07/07 2020/02/17
A1W81N BMG173841013 BW LPG LTD 2017/07/06 2020/01/28
A1XA9J FI4000074984 Valmet 2017/04/09 2020/02/06
A1XEHR FR0011726835 GTT 2018/03/09 2018/03/09
A2ATU3 SE0009155005 Ahlsell 2017/07/12 2019/03/01
A2JAU0 BMG1466R1088 Borr Drilling 2018/01/29 2020/02/13
A2JGEL NO0010816093 Elkem ASA 2018/04/17 2018/05/11
ABB INE117A01022 ABB India 2018/09/02 2020/02/06
ACAD SE0007897079 AcadeMedia AB 2017/07/10 2020/02/03
AFG NO0003078107 AF Gruppen ASA 2017/08/10 2020/02/19
AKA NO0010215684 Akastor ASA 2017/07/07 2019/12/05
AKER NO0010234552 Aker ASA 2018/03/23 2020/02/10
AKERBP NO0010345853 Aker BP ASA 2017/07/12 2020/02/21
AKSO NO0010716582 Aker Solutions ASA 2017/07/07 2020/02/11
ALFA GB00BDHXPG30 Alfa Financial Software Holdings 2017/07/18 2020/02/05
ALIG SE0007158910 Alimak Group AB 2017/07/06 2020/02/24
ALK B DK0060027142 ALK-Abello A/S 2017/11/03 2020/02/06
ALV US0528001094 Autoliv Inc. 2017/10/27 2020/01/29
AMBEA SE0009663826 Ambea 2018/03/09 2020/02/17
AMBU B DK0060591204 Ambu AS 2018/08/15 2020/02/05
ARCHER BMG0451H1170 Archer Ltd 2017/10/25 2020/02/18
ATEA NO0004822503 Atea ASA 2017/07/11 2020/02/07
ATIC SE0009269467 Actic Group AB 2017/11/14 2020/02/21
ATLAS TRAATLAS91Q9 Atlas Menkul Kiymetler Yatirim Ortakligi 2018/04/06 2018/05/11
ATORX SE0000767188 Alligator Bioscience AB 2017/08/24 2020/02/13
ATRLJ B SE0000191827 Atrium Ljungberg AB Series B 2018/08/30 2020/02/21
ATVEXA B SE0010599704 Atvexa AB 2018/11/27 2020/01/31
ATW.. US0500951084 ATWOOD OCEANICS 2018/03/23 2018/09/28
AUSS NO0010073489 Austevoll Seafood ASA 2017/08/25 2020/02/21
AVACF BMG067231032 AVANCE GAS HOLDINGS LTD 2017/07/06 2020/01/28
AWDR GB00B5LJSC86 Awilco Drilling 2018/09/06 2020/02/13
AXA SE0011309319 Axactor SE 2019/01/31 2020/02/13
AZA SE0000170110 AVANZA BANK HLDG NPV 2017/07/06 2020/01/22
B2H NO0010633951 B2Holding ASA 2017/08/28 2020/02/12
BAKKA FO0000000179 Bakkafrost P/F 2017/11/14 2020/02/21
BALD B SE0000455057 Fastighets AB Balder B 2017/11/03 2020/02/21
BERG B SE0000101362 Bergman & Beving 2017/11/02 2020/02/10
BETS B SE0011089259 Betsson 2019/01/09 2020/02/17
BETS IL B SE0009806870 Betsson AB 2017/07/04 2017/07/04
BGBIO NO0010650013 Bergenbio ASA 2018/02/13 2020/02/10
BILL SE0000862997 BillerudKorsnas 2017/09/21 2017/09/22
BIOA B SE0010323311 BioArctic AB 2017/11/21 2020/02/07
BOL SE0012455673 Boliden AB 2019/11/13 2020/02/14
BRAV SE0007491303 Bravida Holding AB 2018/09/27 2020/02/14
BRG NO0010657505 Borregaard 2017/07/19 2020/02/07
BWO BMG1190N1002 BW Offshore 2018/01/16 2020/02/10
CARL B DK0010181759 Carlsberg A/S B 2017/10/13 2020/02/05
CAST SE0000379190 Castellum AB 2017/07/13 2020/02/21
CATE SE0001664707 Catena AB 2019/09/23 2020/02/24
CGCBV FI0009013429 Cargotec Oyj 2017/10/10 2020/02/07
CGG FR0013181864 CGG 2018/05/17 2020/02/10
CGG. US12531Q2049 CGG ADR 2018/02/22 2018/03/23
CHR DK0060227585 Chr. Hansen Holding A/S 2017/10/09 2020/01/16
COLO B DK0060448595 Coloplast A/S Series B, 2017/10/17 2020/02/07
COOR SE0007158829 Coor Service Management Holding AB 2017/07/06 2020/02/13
CRAYON NO0010808892 Crayon Group Holding 2017/12/20 2018/04/17
CTY1S FI0009002471 Citycon Oyj 2017/07/13 2020/02/21
DANSKE DK0010274414 Danske Bank A/S 2017/07/20 2020/02/06
DDASA NO0003089005 Dolphin Drilling ASA 2017/10/23 2019/09/25
DEMANT DK0060738599 Demant 2017/07/19 2020/02/05
DHT MHY2065G1219 DHT Holdings 2017/07/09 2020/02/12
DNB NO0010031479 DNB 2017/07/12 2020/02/07
DNO NO0003921009 DNO 2017/08/21 2020/02/21
DNORD DK0060083210 S Norden A/S 2017/11/10 2020/02/13
DO US25271C1027 Diamond Offshore Drilling Inc. 2017/10/31 2020/02/13
DOF NO0010070063 DOF ASA 2018/03/23 2020/02/11
DOM SE0007691613 Dometic Group AB 2019/05/23 2020/02/03
DSX MHY2066G1044 Diana Shipping Inc. 2018/03/09 2018/03/09
E3G1 SE0006826046 Evolution Gaming Group 2017/07/20 2020/01/10
E65F GB00B4VLR192 Valaris plc (A) 2017/10/27 2020/02/17
EGLE MHY2187A1432 Eagle Bulk Shipping 2018/06/18 2020/02/13
EIOF NO0010263023 Eidesvik 2018/03/23 2018/09/28
EKTA B SE0000163628 Elekta AB Series B 2017/11/27 2020/02/21
ELISA FI0009007884 Elisa Oyj 2019/04/08 2020/01/31
ELK AU000000ELK1 Elk Petroleum 2018/07/05 2019/04/08
ELUX B SE0000103814 Electrolux AB B 2017/10/12 2020/02/03
ENTRA NO0010716418 Entra ASA 2017/07/12 2020/02/21
EPI B SE0011166941 Epiroc B 2018/06/18 2020/02/03
EPIS B SE0003491562 Episurf Medical AB 2018/12/07 2020/02/10
EPR NO0010735343 Europris ASA 2017/07/14 2020/01/31
EQNR NO0010096985 Equinor ASA 2017/07/24 2020/02/21
ERIC B SE0000108656 L.M. Ericsson Telephone Co. B 2019/10/08 2020/02/24
ESSITY B SE0009922164 Essity Aktiebolag B 2017/10/27 2020/01/23
EURN BE0003816338 Euronav 2017/07/09 2020/02/12
EVRY NO0010019649 Evry ASA 2017/11/13 2019/12/02
FABG SE0011166974 FABEGE 2018/04/27 2018/04/27
FJORD NO0010792625 Fjord1 AS 2018/10/10 2020/01/28
FLNG BMG359471031 Flex LNG Ltd. 2017/08/24 2020/01/16
FLS DK0010234467 FLSmidth & Co. A/S 2018/01/28 2020/02/13
FLXNF VGG359451074 FLEX LNG Ltd 2018/05/23 2019/10/01
FORTUM FI0009007132 Fortum Oyj 2017/07/20 2019/02/05
FPM GB0033032904 Faroe Petroleum PLC 2017/09/04 2019/12/01
FRLN BMG3682E1277 Frontline Ltd. 2018/09/13 2018/11/02
FRO BMG3682E1921 Frontline Ltd. 2017/07/09 2020/02/12
G2O BMG9456A1009 Golar LNG Ltd. 2017/08/04 2020/01/16
GEN DK0010272202 Genmab A/S 2019/01/09 2020/02/21
GETI B SE0000202624 Getinge AB B 2017/10/18 2020/01/31
GJF NO0010582521 Gjensidige Forsikring ASA 2017/07/14 2020/01/23
GLOG BMG375851091 GasLog 2017/08/02 2020/01/30
GMLP MHY2745C1021 Golar LNG Partners LP 2017/08/04 2020/01/24
GN DK0010272632 GN Store Nord A/S 2017/07/19 2020/02/06
GNK MHY2685T1313 Genco Shipping & Trading Ltd. 2017/07/13 2020/02/13
GNRT MHY268891089 Gener8 Maritime 2017/07/13 2019/12/06
GOGL BMG396372051 Golden Ocean Group Limited 2017/07/07 2020/02/19
GSF NO0010365521 Grieg Seafood ASA 2017/08/24 2020/02/21
HANDI SE0010298109 Handicare Group AB 2017/11/19 2020/02/13
HELG NO0010029804 Helgeland Sparebank ASA 2017/10/31 2020/02/07
HEMF SE0007126115 Hemfosa Fastigheter AB 2017/12/06 2020/02/14
HEX NO0003067902 Hexagon Composites ASA 2017/08/08 2020/02/13
HEXA B SE0000103699 Hexagon AB B 2017/10/30 2020/02/06
HLNG BMG454221059 Hoegh LNG AS 2017/08/24 2020/01/16
HM B SE0000106270 H & M Hennes & Mauritz AB B 2017/12/12 2020/01/31
HMLP MHY3262R1009 Hoegh LNG Partners LP 2017/08/24 2019/05/29
HMS SE0009997018 HMS Networks AB 2019/05/27 2020/02/04
HUFV A SE0000170375 Hufvudstaden A 2017/11/13 2020/02/21
HUM SE0008040653 Humana AB 2017/11/03 2020/02/17
HUNT NO0010283211 Hunter Group ASA 2018/10/03 2020/02/12
HUSQ B SE0001662230 Husqvarna AB B 2017/10/23 2020/02/05
IAR B SE0005851706 IAR Systems Group AB 2018/04/09 2020/02/12
ICE BE0003860773 Ice Concept S.A. 2019/06/27 2020/02/18
INDU A SE0000190126 Industrivarden AB Series A 2018/05/20 2020/02/21
INVE B SE0000107419 Investor AB B 2017/10/08 2020/02/21
ISOFOL SE0009581051 Isofol Medical AB 2019/11/14 2020/02/20
JM SE0000806994 JM AB 2017/07/14 2020/02/03
KCR FI0009005870 Konecranes Oyj 2017/10/26 2020/02/07
KLED SE0000549412 Kungsleden AB 2017/07/12 2020/02/21
KLOV B SE0006593919 Klovern (B) 2019/11/15 2020/02/21
KNEBV FI0009013403 Kone Oyj B 2017/07/19 2020/01/29
KNOP MHY481251012 KNOT Offshore Partners 2018/03/09 2020/02/11
KNVKF SE0008373906 KINNEVIK AB 2017/10/26 2020/02/21
KOG NO0003043309 Kongsberg Gruppen ASA 2017/11/14 2020/02/13
KVAER NO0010605371 Kvaerner ASA 2018/03/23 2020/02/13
LEO CA5263673058 Leo Resources Inc 2018/10/15 2020/02/20
LOOM B SE0002683557 Loomis AB (Series B) 2017/10/20 2020/02/06
LPG MHY2106R1100 Dorian LPG 2017/07/06 2020/02/10
LSG NO0003096208 Leroy Seafood Group ASA 2017/08/24 2020/02/21
LUN CA5503721063 Lundin Mining Corp. 2017/07/19 2020/02/24
LUND B SE0000108847 L.E. Lundbergfoeretagen AB B 2017/11/23 2020/02/21
LUPE SE0000825820 Lundin Petroleum AB 2017/07/27 2018/08/01
MAERSK B DK0010244508 A.P. Moller-Maersk A/S Series B 2017/10/30 2020/02/24
MEDI NO0010159684 Medi-Stim ASA 2017/07/28 2020/02/21
METSB FI0009000665 Metsa Board OYJ 2017/07/24 2017/10/03
METSO FI0009007835 Metso Corp. 2018/01/28 2020/02/07
MGN NO0010187032 Magnora ASA 2018/03/23 2018/09/28
MIICF LU0038705702 Millicom International Cellular S.A. 2018/02/08 2020/01/15
MING NO0006390301 SpareBank 1 SMN 2017/08/09 2020/02/06
MKRRF SE0001785270 MELKER SCHORLING AB 2017/11/10 2018/01/12
MMGR B SE0009922305 Momentum Group 2017/11/02 2020/02/13
MORG NO0006390004 Sparebanken More 2017/08/10 2020/01/31
MOWI NO0003054108 Mowi ASA 2017/07/14 2020/02/21
MSEIS NO0010663669 Magseis Fairfield 2019/08/26 2020/02/18
MTG B SE0000412371 Modern Times Group AB Cl B 2017/10/19 2020/02/10
NANO NO0010597883 Nordic Nanovector ASA 2017/08/23 2019/11/20
NAS NO0010196140 Norwegian Air Shuttle ASA 2017/07/06 2020/01/07
NCC GB00B01QGK86 NCC Group PLC 2017/07/11 2017/07/20
NCC B SE0000117970 NCC AB Series B 2017/10/17 2020/01/31
NDA DKK SE0000427361 Nordea Bank Abp 2017/10/26 2020/02/07
NEL NO0010081235 NEL ASA 2020/01/27 2020/01/27
NHY NO0005052605 Norsk Hydro ASA 2017/07/26 2020/02/12
NLC GB00BFG3KF26 Noble Corp plc 2017/08/01 2019/06/13
NOBI SE0000949331 Nobia AB 2017/07/05 2020/02/05
NOD NO0003055501 Nordic Semiconductor ASA 2017/07/10 2020/02/11
NOFI NO0010387004 Norwegian Finans Holding ASA 2017/10/05 2020/02/21
NOKIA FI0009000681 Nokia Corp. 2019/10/08 2020/02/10
NONG NO0006000801 SpareBank 1 Nord-Norge 2017/08/09 2020/02/14
NOVA US6701002056 Novo Nordisk A/S ADS 2017/07/21 2018/05/03
NOVO B DK0060534915 Novo Nordisk A/S B 2017/10/19 2020/02/06
NPRO NO0010317811 Norwegian Property ASA 2017/07/12 2020/02/21
NRC NO0003679102 NRC Group ASA 2017/11/07 2020/02/14
NRS NO0010331838 Norway Royal Salmon ASA 2017/11/07 2020/02/21
NVP SE0002575340 NeuroVive Pharmaceutical AB 2018/10/25 2019/11/05
NZYM B DK0060336014 Novozymes A/S B 2017/10/16 2020/01/24
ODF NO0003399909 Odfjell ASA 2017/08/25 2020/01/16
ODL BMG671801022 Odfjell Drilling 2017/08/30 2020/02/13
OLT NO0005638858 Olav Thon Eiendomsselskap ASA 2017/08/25 2020/02/21
ONCO SE0009414576 Oncopeptides AB 2017/08/26 2019/12/09
OPERA NO0010040611 Otello Corp ASA 2019/04/04 2019/11/15
ORI AU000000ORI1 Orica Ltd. 2018/08/02 2019/07/09
ORI SDB CH0256424794 Oriflame Holding 2017/08/01 2018/05/07
ORIG KYG669641006 Ocean Rig UDW Inc 2017/09/01 2018/10/29
ORK NO0003733800 Orkla ASA 2017/07/14 2020/02/07
OTE1V FI0009014575 Outotec Oyj 2018/01/28 2020/02/07
OUT1V FI0009002422 Outokumpu Oyj 2017/06/23 2019/02/05
PACD LU1405802361 Pacific Drilling Ltd 2018/01/29 2020/02/13
PEAB B SE0000106205 Peab AB B 2017/10/25 2020/02/07
PGS NO0010199151 PGS ASA 2017/07/28 2020/02/10
PLCS KYG7153K1085 Polarcus Ltd. 2017/08/04 2020/02/10
PNDORA DK0060252690 Pandora A/S 2017/12/14 2020/02/05
POX SE0007100359 Pandox Ab 2017/11/10 2020/02/21
QFR NO0003103103 Q-Free ASA 2018/08/09 2018/08/09
RBREW DK0060634707 Royal Unibrew A/S 2020/01/20 2020/01/20
RDC GB00B6SLMV12 Rowan Companies plc 2017/08/01 2019/09/25
REZT SE0001857533 Radisson Hospitality AB 2017/07/21 2019/03/22
RIGN CH0048265513 Transocean Ltd. 2017/08/01 2020/02/13
RISE MTF SE0009143993 Ripasso Energy AB 2018/04/24 2019/08/28
S0QA MHY7542C1066 Scorpio Tankers Inc. 2017/07/19 2020/02/24
SALM NO0010310956 Salmar ASA 2017/08/25 2020/02/21
SAMPO FI0009003305 Sampo Oyj Series A 2017/10/25 2020/02/07
SAND SE0000667891 Sandvik AB 2017/10/06 2020/01/22
SAS SE0003366871 SAS 2018/09/03 2020/02/24
SATS NO0010863285 SATS 2020/01/06 2020/02/14
SBANK NO0010739402 Sbanken 2017/10/04 2020/02/17
SBL MHY7388L1039 Safe Bulkers Inc. 2017/07/07 2020/02/13
SBLK MHY8162K2046 Star Bulk Carriers 2019/01/07 2020/02/20
SBO NO0010612450 Selvaag Bolig AS 2017/10/03 2020/02/14
SCH NO0003028904 Schibsted A 2018/09/24 2020/02/14
SDRL BMG7945E1057 SeaDrill Ltd 2017/08/24 2020/02/13
SEB A SE0000148884 Skandinaviska Enskilda Banken AB A 2017/10/25 2020/01/30
SECU B SE0000163594 Securitas AB Series B 2017/10/19 2020/02/07
SFL BMG810751062 Ship Finance International Ltd. 2019/09/16 2020/02/20
SHOT SE0007640156 Scandic Hotels Group 2017/07/07 2018/04/27
SIOFF KYG813131011 Siem Offshore Inc 2018/03/23 2018/09/28
SKA B SE0000113250 Skanska AB Series B 2017/10/25 2020/02/10
SKF B SE0000108227 SKF AB B 2017/11/01 2020/02/05
SN6 BMG850801025 Stolt-Nielsen Ltd. 2017/07/07 2020/02/03
SOBI SE0000872095 Swedish Orphan Biovitrum AB 2018/09/17 2020/02/14
SOC LU0075646355 Subsea 7 S.A. 2017/07/24 2020/02/10
SOFF NO0003080608 Solstad Offshore ASA 2018/03/23 2018/09/28
SOLON NO0003106700 Solon Eiendom ASA 2017/10/03 2020/01/08
SOR NO0006001502 Sparebanken Sor 2017/10/26 2020/02/10
SPM IT0005252140 Saipem 2017/07/24 2018/09/28
SPOG NO0006222009 Sparebanken Ost ASA 2017/07/13 2020/02/14
SPOL NO0010751910 SpareBank 1 Ostlandet 2017/07/10 2018/05/02
SPU NO0010429145 Spectrum ASA 2017/10/09 2019/09/25
SRBANK NO0010631567 Sparebank 1 SR Bank 2017/08/09 2020/02/06
SSAB A SE0000171100 SSAB AB A 2017/10/10 2019/02/05
SSC JE00B61ZHN74 Scottish Salmon Co. Ltd. 2017/11/23 2019/11/26
SSG NO0010781206 Self Storage Group 2018/04/03 2018/04/03
SSO NO0010715139 Scatec Solar ASA 2019/03/26 2020/01/29
STB NO0003053605 Storebrand ASA 2017/07/13 2020/02/13
STERV FI0009005961 Stora Enso Oyj R 2019/04/02 2020/02/04
STORY B SE0007439443 Storytel AB 2019/12/12 2020/02/21
SVEG NO0006000900 Sparebanken Vest 2018/12/13 2020/01/31
SWED A SE0000242455 Swedbank AB Series A 2017/10/24 2020/01/29
SWMA SE0000310336 Swedish Match AB 2017/07/06 2020/02/05
T01 MHY8565J1010 Teekay Offshore Partners L. P. 2017/09/12 2017/09/12
TEC GB00BDSFG982 TechnipFMC 2017/07/24 2020/02/10
TEL NO0010063308 Telenor ASA 2017/07/10 2020/02/18
TELIA SE0000667925 Telia Co AB 2017/10/13 2020/01/30
TELL US87968A1043 Tellurian Inc 2019/02/01 2020/01/16
TGS NO0003078800 TGS-NOPEC Geophysical Co. ASA, 2017/08/04 2020/02/14
THULE SE0006422390 Thule Group AB 2017/10/02 2017/10/02
TIETO FI0009000277 TietoEvry 2019/11/28 2020/02/18
TK4 BMG9108L1081 Tsakos Energy Navigation Ltd. 2018/03/09 2018/03/09
TOM NO0005668905 Tomra Systems ASA 2017/07/14 2019/10/22
TOP DK0060477503 Topdanmark A/S 2017/07/19 2020/01/24
TREL B SE0000114837 Trelleborg AB Series B 2017/10/30 2020/02/13
TRVX NO0010689326 Targovax AS 2017/08/24 2020/01/22
TRYG DK0060636678 Tryg A/S 2017/07/11 2020/01/23
TYRES FI0009005318 Nokian Tyres 2017/07/05 2020/02/17
ULTIMO NO0010851603 Ultimovacs 2019/07/19 2020/02/17
UPM FI0009005987 UPM-Kymmene Oyj 2017/07/19 2020/02/03
VEI NO0005806802 Veidekke ASA 2017/08/10 2020/02/12
VERI SE0006343950 Verisec AB 2019/09/03 2020/02/07
VICO ID1000128002 Victoria Investama 2019/06/18 2019/11/12
VITIF SE0000816043 Vitrolife AB 2017/07/17 2020/02/07
VOLV B SE0000115446 Volvo AB Series B 2017/10/10 2020/01/31
VWS DK0010268606 Vestas Wind Systems A/S 2017/07/24 2020/02/07
WALL B SE0007074844 Wallenstam AB 2017/10/26 2020/02/21
WALWIL NO0010571680 Wallenius Wilhelmsen Logistics ASA 2017/11/08 2020/02/13
WILC SE0000950636 Fabege AB 2017/07/07 2020/02/21
WRT1V FI0009003727 Wartsila Oyj B 2017/10/06 2020/01/31
WTX SE0008293674 Wilson Therapeutics AB 2017/08/24 2018/08/14
WWI NO0010571698 Wilhelm Wilhelmsen Holding 2017/08/08 2020/02/17
XXL NO0010716863 XXL ASA 2017/07/21 2020/01/03
YAR NO0010208051 Yara International ASA 2017/07/19 2020/02/10
YIT FI0009800643 Yit Oyj 2017/10/18 2020/02/11

Analysts

  • Martin Arnell

    Analyst Years of Experience: 12
  • Karl-Johan Bonnevier

    Analyst Years of Experience: 28
  • Ole Martin Westgaard

    Analyst Years of Experience: 11
  • Mattias Holmberg

    Analyst Years of Experience: 3
  • Nicolas McBeath

    Analyst Years of Experience: 6 years of equity research experience
  • Nicolay Dyvik

    Analyst Years of Experience: 12
  • Simen Mortensen

    Analyst Years of Experience: 14
  • Jon Masdal

    Senior Analyst Years of Experience: 8
  • Christer Roth

    N/A
  • Martin Kaland

    Analyst Years of Experience: 3
  • Patrik Ling

    Senior Analyst Healthcare Years of Experience: 20
  • Niclas Gehin

    Analyst Years of Experience: 6
  • Alexander Aukner

    Senior Analyst Years of Experience: 12
  • Eivind Sars Veddeng

    Analyst Years of Experience: 5
  • Rune Majlund Dahl

    Analyst Years of Experience: 11
  • Mattias Montgomery

    Analyst Years of Experience: 4
  • Ole-Andreas Krohn

    Analyst Years of Experience: 12
  • Martin Huseby Karlsen

    Senior Analyst Years of Experience: 13
  • Antti Kansanen

    Analyst Years of Experience: 8
  • Jesper Ingildsen

    Junior Analyst Years of Experience: 3
  • Helge André Martinsen

    Analyst Years of Experience: 19
  • Christer Magnergård

    Head of Equities, Sweden and Senior Equity Analyst, Capital Goods & Automotiv Years of Experience: 13
  • Håkon Astrup

    Analyst Years of Experience: 8
  • Paul Harper

    Equity Strategist\Quant Analyst Years of Experience: 19
  • Kristian Tunaal

    Equity strategist Years of Experience: 20
  • Tone Bjørnstad Hanstad

    Analyst Years of Experience: 5
  • Jeanette Strøm Fjære

    Economist Years of Experience: 4
  • Ole André Kjennerud

    Economist Years of Experience: 6
  • Torbjørn Kjus

    Chief Oil Analyst Years of Experience: 15
  • Kyrre Aamdal

    Senior Economist Years of Experience: 30
  • Knut A. Magnussen

    Senior Economist Years of Experience: 29
  • Magnus Vie Sundal

    Credit Strategist Years of Experience: 7
  • Thomas Larsen

    Credit Research Analyst Years of Experience: 11
  • Martin Børter

    Credit Research Analyst Years of Experience: 8
  • Mikael Løkken Gjerding

    Credit Research Analyst Years of Experience: 9
  • Magne Østnor

    Currency Strategist Years of Experience: 12
  • Olof Larshammar

    Analyst Years of Experience:  10
  • Morten Jensen

    Global Head of Equity Research Years of Experience: 30
  • Marit Øwre-Johnsen

    Currency Analyst Years of Experience: 8
  • Kjersti Haugland

    Chief Economist Years of Experience: 14
  • Joachim Gunell

    Junior Analyst Years of Experience: 1
  • Christoffer Wang Bjørnsen

    Analyst Years of Experience: 3
  • Stefan Gauffin

    Analyst Years of Experience: 12
  • Frank Maaø

    Analyst Years of Experience: 20
  • Jørgen Lian

    Junior Analyst Years of Experience: 2
  • Kristina Solbakken Lund

    Credit Analyst Years of Experience: 5
  • Lovisa Runge

    Analyst Years of Experience: 1
  • Marius Knudssøn

    Analyst Years of Experience: 3
  • Vegard Kjølhamar

    Credit Research Analyst Years of Experience: 4
  • Shawn Courcelles

    Junior Credit Research Analyst Years of Experience: 1
  • Rolv Kristian Heitmann

    Credit Research Analyst Years of Experience: 7
  • Ole Einar Stokstad

    Head of Credit Research Years of Experience: 15
  • Nicolai Farstad Olsen

    Junior Analyst Years of Experience: 2
  • Mats Bye

    Junior Analyst Years of Experience: 3
  • Jon Berggren

    Junior Analyst
  • Knut Magnussen

    N/A
  • Karin Busch

    N/A
  • Jan Fredrik Tønnessen

    N/A
  • Jenny Lakin

    N/A
  • Martin Hoang Nguyen

    N/A
  • Tomi Railo

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  • Jimi Lehtonen

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  • Helene Kvilhaug Brøndbo

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  • Viktor Trollsten

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  • Ingvild Borgen Gjerde

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  • Niklas Wetterling

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  • Frank Maaø

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  • Ole Martin Westgaard

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  • Alexander Aukner

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  • Nicolay Dyvik

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  • Simen Mortensen

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  • Joachim Gunell

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  • Jon Masdal

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  • Ole-Andreas Krohn

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  • Paul Harper

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  • Jeanette Strøm Fjære

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  • Martin Arnell

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  • Eivind Sars Veddeng

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  • Knut Magnussen

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  • Helge André Martinsen

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  • Kjersti Haugland

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  • Magne Østnor

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  • Jørgen Lian

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  • Patrik Ling

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  • Rune Majlund Dahl

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  • Mats Bye

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  • Marius Knudssøn

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  • Christoffer Wang Bjørnsen

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  • Christer Magnergård

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  • Martin Huseby Karlsen

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  • Kyrre Aamdal

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  • Mattias Holmberg

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  • FICC Analyst FICC Analyst

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  • Håkon Astrup

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  • Nicolas McBeath

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  • Olof Larshammar

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  • Karl-Johan Bonnevier

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  • Niclas Gehin

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  • Stefan Gauffin

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  • Jesper Ingildsen

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  • Nicolai Farstad Olsen

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  • Morten Jensen

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  • Ole André Kjennerud

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FICC Analyst FICC Analyst

Daily Macro Brief 24 February: Virus in Italy causes new concerns

Daily Macro Brief 24 February: Virus in Italy causes new concerns (2 pages)

Ole-Andreas Krohn

Morning Presentation

Frank Maaø ...
  • Martin Arnell
  • Mattias Holmberg
  • Nicolay Dyvik
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Viktor Trollsten

Northern Lights

FICC Analyst FICC Analyst

Morgenrapport 24. februar: Aksjemarkedet tror på gjeninnhenting

Morgenrapport 24. februar: Aksjemarkedet tror på gjeninnhenting (2 pages)

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.

Mikael Løkken Gjerding

Refinancing challenges persist

Teekay Offshore Partners LP (TOO US) - Refinancing challenges persist (13 pages)

Martin Børter

May lean on its backlog

Höegh LNG Holdings Ltd (HLNG NO) - May lean on its backlog (11 pages)

Martin Børter

Strong liquidity through a challenging market

Klaveness Ship Holding AS () - Strong liquidity through a challenging market (10 pages)

Martin Børter

New set of risks

Golar LNG Partners LP (GMLP US) - New set of risks (10 pages)

Thomas Larsen

Hold your breath

Seadrill Ltd (SDRL NO) - Hold your breath (7 pages)

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.

Martin Arnell

Kindred Group (Buy, TP: SEK75.00) - Set to bounce back in 2020

The US expansion is interesting, but it is still early days (GBP12m–13m EBITDA loss guided in 2020). Kindred must thus achieve earnings growth elsewhere, which we believe it will (20% EBITDA growth YOY in 2020e). 2021 should be more challenging given the Dutch re-regulation. We maintain our BUY and SEK75 target price on the good start to 2020 and promising outlook.

Viktor Trollsten

Lundin Mining (Hold, TP: SEK58.00) - Delivering according to plan

We believe Q4 marked a good end to the year, and 2020 looks solid in our view as: 1) company guidance should be achievable with growth projects on track; 2) solid cost control in Q4 should drive modest consensus EPS revisions; and 3) the strong balance sheet bodes well for further M&A and increasing shareholders returns. However, we maintain our HOLD and have trimmed our target price to SEK58 (59) as we believe a favourable 2020 is already well reflected in consensus and the stock.

Mattias Holmberg

Alimak (Buy, TP: SEK145.00) - On the right (but bumpy) track

Despite a soft Q4 and H1 2020 outlook hit by a low Construction order backlog and coronavirus impact, we reiterate our BUY – supported by After Sales, where the acquired businesses continue to develop positively (the core of the investment case in our view). We have reduced our 2020–2021e EBIT by 3–4% but reiterate our SEK145 target price on a higher valuation. With a 2019–2022e adj. EBITA CAGR of 5%, we find the shares attractively valued at c11x 2020e EV/EBIT.

Nicolay Dyvik

Scorpio Tankers (Buy, TP: USD30.00) - Offhire to affect 2020e

Scorpio Tankers has added 1,050 offhire days for H1 2020e, as the scrubber schedule has been affected by yard delays and coronavirus effects. Combined with the reduction in the fuel spread and Q1 guidance slightly below our estimates, we have thus reduced our 2020e EBITDA by 12%, and our EPS from USD4.39 to USD1.84. We now see asset values down 7% one-year forward (in line with our recent crude update), negatively affecting our one-year forward NAV. We reiterate our BUY, but have cut our target price to USD30 (38).

FICC Analyst FICC Analyst

Daily Macro Brief 24 February: Virus in Italy causes new concerns

Daily Macro Brief 24 February: Virus in Italy causes new concerns (2 pages)

FICC Analyst FICC Analyst

Morgenrapport 24. februar: Aksjemarkedet tror på gjeninnhenting

Morgenrapport 24. februar: Aksjemarkedet tror på gjeninnhenting (2 pages)

FICC Analyst FICC Analyst

Weekly Calendar 24-28 February

Weekly Calendar 24-28 February (2 pages)

FICC Analyst FICC Analyst

Daily Macro Brieg 21 February: Oil investments set to fall in 2021

Daily Macro Brieg 21 February: Oil investments set to fall in 2021 (2 pages)

FICC Analyst FICC Analyst

Morgenarpport 21 februar: Lavere risikovilje og positive makrotall

Morgenarpport 21 februar: Lavere risikovilje og positive makrotall (2 pages)

Ole-Andreas Krohn

Morning Presentation

Frank Maaø ...
  • Martin Arnell
  • Mattias Holmberg
  • Nicolay Dyvik
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Viktor Trollsten

Northern Lights

Ole-Andreas Krohn

Morning Presentation

Håkon Astrup ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl

Northern Lights

Karl-Johan Bonnevier ...
  • Martin Arnell
  • Mats Bye
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen

Northern Lights

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