DnB Markets

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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.

 

Helene Kvilhaug Brøndbo ... (+3)
  • Helene Kvilhaug Brøndbo
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
EPR EUROPRIS ASA
ORSTED ØRSTED
2h / 12m 2h / 12m 1 EN
FICC Analyst FICC Analyst
  • FICC Analyst FICC Analyst
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Morgenrapport 6. Juni: Litt lavere lange renter i USA

Morgenrapport 6. Juni: Litt lavere lange renter i USA (2 pages)

2h / 24m 2h / 24m 1 EN
Helene Kvilhaug Brøndbo
  • Helene Kvilhaug Brøndbo
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ORSTED ØRSTED

Ørsted (Sell, TP: DKK474.00) - Profitability and capital structure lik...

We expect focus at the CMD on 8 June to remain on: challenges to profitability in the sector; and funding of the company’s targeted growth with higher capex and likely lower proceeds from farm-downs, partly offset by higher operating cash flow. We believe Ørsted will need to take on more debt and/or be more active in farm-downs to avoid having to raise equity. We still consider the valuation stretched, with the stock trading 81% above our estimated value of its existing business and visible grow...

13h / 51m 13h / 51m 1 EN
Alexander Aukner
  • Alexander Aukner
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BMK Benchmark Holdi...

Benchmark Holdings Plc (Buy, TP: NOK7.40) - Minor model adjustments

We have made minor adjustments to our 2023e FVA and reported net interest-bearing debt to correctly reflect lease liability in our model. The former has a minor estimate impact and the latter no impact. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our NOK7.4 target price.

BMK BENCHMARK HOLDINGS
20h / 38m 20h / 38m 1 EN
Oddmund Berg
  • Oddmund Berg
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Short comment Norway: House prices flat in May

Short comment Norway: House prices flat in May (2 pages)

22h / 12m 22h / 12m 1 EN

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