Inderes

RSS Feed

​Inderes was founded 2009 and is a company that focuses on equity research. Our goal is to contribute to the functioning of the capital markets by acting as an information link between companies and investors. We are one of the largest equity research teams in Helsinki with the strength of 9 professionals. Inderes Equity Research is an award-winning equity research team, which is independent from banking activities. Several of our analysts are top ranked on the Bloomberg BARR-ranking and have won several Starmine rewards. Our company is majority-owned by the staff.

Regulatory Information

  • Regulatory Status: Independent

Antti Viljakainen
  • Antti Viljakainen
EUR 37.48
SUY1V SUOMINEN

Market related challenges continue - Accumulate

​Suominen did not reach our estimates in Q3 due to lower than expected volumes,which reflected challenging trading conditions. Despite slight cuts in estimates, the share’s valuation is still low. Therefore, we retain our recommendation of accumulate for Suominen but revise our target price to 4.00 euros (prev. 4.20 euro).

10/28/16 October 28, 2016 9 EN
Sauli Vilén
  • Sauli Vilén
EUR 187.40
CAPMAN CapMan Oyj Clas...

Moving to the right direction

We raise our target price to €1.35   - we expect CapMan to continue its profit improvement in upcoming years and the profit mix will continue to move towards the management business which supports the acceptable valuation through a lower risk profile.Despite the recent rally in share price the valuation of the share is still lucrative and a growing almost 7% dividend yield offers strong return while waiting for the profit improvement to realize 

CAPMAN CAPMAN OYJ CLASS B
10/24/16 October 24, 2016 35 EN
Antti Viljakainen
  • Antti Viljakainen
EUR 187.40

Back to the track - Accummulate

​We retain target price 4,50 euros and recommendation accumulate for Suominen. The company is executing its credible organic growth strategy for the strategy period of 2015-2017, which growing nonwoven markets support decently. Despite recent headwind, we estimate that Suominen’s earnings will stay on uphill track in the upcoming years driven especially by net sales growth and slight gross-margin expansion. Given the profit growth outlook, we consider that there is decent upside in the share...

06/29/16 June 29, 2016 35 EN
Mikael Rautanen
  • Mikael Rautanen
EUR 187.40
COMPTEL OYJ

We lift Comptel’s recommendation to Buy (previously Accumulate)

​Strong growth fundamentals in the marketComptel is a globally operating company with software that enables operators tocontrol the supply and demand of digital services. Comptel’s software connectsthe physical and virtual communications networks of operators to their BSSsystems. In our view the demand fundamentals for Comptel’s markets arestrong, which is supported by 1) virtualization of communication networks, 2) shiftof networks’ value from HW to SW, and 3) operators’ need to moder...

06/23/16 June 23, 2016 36 EN
Petri Aho
  • Petri Aho
EUR 187.40
SRV1V SRV YHTIOT OYJ

Time to make profits

​We reiterate our Accumulate recommendation and raise target price to 4,1 EUR (before 3,6). SRV’s large business premises development projects, record high order book and the metropolitan area focused housing plot inventory have now started to generate profits. Our SOTP-analysis on continuing operations and large development projects indicate good upside potential and also the valuation multiples look attractive going forward.

06/14/16 June 14, 2016 46 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch