ORIFLAME HOLDING with less fundamental stars is reduced to Neutral

ORIFLAME HOLDING (SE), a company active in the Personal Products industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 14, 2019, the closing price was SEK 176.95 and its expected value was estimated at SEK 186....

1 director bought

A director at Oriflame Holdings Ltd bought 75,980 shares at 219.719SEK and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The name...

Northern Lights

Sandnes Sparebank - Initiation of coverage - The regional challenger

With cNOK29.5bn of lending at end-2023 and a pending merger with Hjelmeland Sparebank, Sandnes Sparebank has secured a strong market position in Rogaland. Supported by positive regional sentiment, distribution of customer dividends and potential capital tailwinds from Basel IV, in addition to still-favourable sector trends, we see scope for solid earnings generation. That said, trading at a 2025e P/E of ~9.0x, we find the valuation fair and initiate coverage with a HOLD and NOK104 target price.

Wihlborgs (Buy, TP: SEK100.00) - Back up to BUY ahead of Q1

We have upgraded Wihlborgs to BUY (HOLD) and raised our target price to SEK100 (90). We no longer see a near-term risk to the stock from material asset write-downs, but rather expect investors to focus on healthy momentum in lettings at Wihlborgs. With a positive outlook for Q1, we forecast strong net lettings, and are 3% above Infront consensus on profit from property management (PFPM). The results are due at 07:30 CET on 23 April.

Norske Skog (Buy, TP: NOK54.00) - Moving in the right direction

Due to a less-positive view on prices in combination with a more cautious view on the ramp-up of Norske Skog’s conversion investments in packaging, we have yet again made hefty negative revisions to our 2024–2025e. Still, we believe the long-term transformational case in Norske Skog remains intact while the balance sheet is robust. On a positive side, we note that test liner prices in continental Europe are up c10% in April after being under pressure for six quarters. Still, reflecting our significantly lowered estimates, we have cut our target price to NOK54 (60) but reiterate our BUY.