Industrivärden (Hold, TP: SEK205.00) - Less short-term appeal
We have lowered our recommendation from BUY to HOLD and have reduced our target price to SEK205 (210) as we see the valuation as fair after the stock's recent gains. We continue to like the company’s long-term transformation story, but consider now a good time for a breather after reviewing the portfolio.
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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