Sampo Oyj (Buy, TP: EUR48.00) - Going better than planned
Sampo reported a solid Q2, with EPS 6.5% above consensus, momentum across all business areas, and underwriting results well ahead of the ambitions set out at its CMD earlier this year. With support from the sale of Nordea shares, its capital position continues to improve, leaving ample potential for capital distributions. We have lifted 2022–2023e EPS by 1–2% and reiterate our BUY, while raising our target price to EUR48 (46) on lifted earnings and the improved capital position.Co. is the parent company of a group engaged in the provision of insurance services and the marketing and sale of insurance policies such as worker's compensation insurance, personal accident insurance, motor vehicle insurance, motor third party liability insurance, fire and other property insurance; and cargo insurance.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.