Weekly NAV update
In an earnings-intense week, the sector outperformed the OMXS30 by 1.8% on average, with Kinnevik and MSAB as top performers. In our sector coverage, Kinnevik released a solid Q3 report supporting our investment case as it continues to focus on cleaning up the long tail of smaller businesses and deploying more capital into fewer, more promising digital investments, which led to us raise our target price to SEK310 (300). Our sector top picks remain Kinnevik and Investor.Investor AB is an industrial holding company. Through its subsidiaries, Co. invests in companies and industries. Co.'s holdings are divided into two business areas: Core Investments and Financial Investments. Core Investments consists of listed holdings, in which Co. is a major owner, and its wholly-owned subsidiaries. Financial Investments consists of Co.'s investments in EQT and Investor Growth Capital, its partner-owned investments and other investments and activities.
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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