Nordic Paper Holding (Buy, TP: SEK55.00) - Capturing the price momentum
Significant price inflation in paper-based materials provides support for 2021–2022 forecasts in our view, though Q1 is unlikely to see much benefit, given the timing of hikes in the market and Nordic Paper’s contract structure. We consider Nordic Paper well positioned for price inflation in the paper space, as well as the near-term reopening of economies, backed by an attractive valuation and strong yield support. We have raised our target price to SEK55 (52), and reiterate our BUY.
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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