Holmen (Hold, TP: SEK460.00) - Earnings stability intact
We have trimmed our 2024–2026 forecasts on electricity prices and lower assumptions for traditional paper. However, we expect investors’ perception about the value of Holmen’s forestland to turn gradually more positive, due to improved earnings prospects for forest owners. We reiterate our HOLD but have raised our target price to SEK460 (455).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.