Nordic Paper Holding (Buy, TP: SEK65.00) - Healthy pricing prospects
With positive progress from Q1, we expect healthy volumes and prices in Q2 and onwards. We also believe Nordic Paper is well placed to mitigate higher wood costs with higher prices. No new information about a potential sale of the company has been provided. However, given the attractive assets and exposure, we still believe it could be sold at a premium and we consider the stock attractively valued regardless of a sale. We reiterate our BUY and SEK65 target price.
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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