Peab AB: 1 director

A director at Peab AB bought 1,500,000 shares at 85.000SEK and the significance rating of the trade was 77/100. 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 sh...

Skanska (Buy, TP: SEK255.00) - Volatile miss in Q1

Q1 EBIT missed, as the Residential and Commercial Development divisions had weaker-than-expected results. We have reduced our recovery expectations for these segments due to continued softness in Nordic housing sales and a slow recovery in US commercial property development. However, we still see upside potential in our SOTP-based valuation and reiterate our BUY. Nevertheless, based on our lowered forecasts, we have reduced our target price to SEK255 (270).

Still in a solid position

Peab (Hold, TP: SEK85.00) - Q1 EBIT broadly as expected

Peab reported a Q1 seasonal EBIT loss (as expected), driven by winter-related effects in Industry. We have lowered our 2025e EPS due to the low tax rate in Q1, despite a broadly in-line underlying performance. We have slightly raised our revenue and EPS forecasts for 2026–2027 by c1%. We continue to see better risk/reward in peers and reiterate our HOLD and SEK85 target price.

Solid Construction results

Fine results from Civil

Seafood - Fat Trout Weekly

Seafood - Fat Trout Weekly

Dexcom Q1: strong growth and positive news

Nordic Semiconductor (Buy, TP: NOK160.00) - Not too bad given tail-end...

While implied guidance for H1 revenues is ~1–4% below our forecast and consensus, the underlying sequential performance is directionally in line with the broader set of peers to have reported to date. We find this growth and gross margin profile solid, given we are at the tail-end of the life of Nordic’s 10-year-old 55nm technology platform. Combined with the arguably unprecedented level of uncertainty for the company’s customers, we find it achieving a ~50% gross margin and accelerated Cellular...

Nordic Semiconductor ASA: 1 director

A director at Nordic Semiconductor ASA bought 20,090 shares at 102.500NOK and the significance rating of the trade was 50/100. 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 y...

Soft Q1 growth from Logitech

14% drop seems like an overreaction

Ready to grow through M&A

Ncc (Buy, TP: SEK210.00) - Slightly larger seasonal losses

The divisional figures were broadly in line, and as usual, Q1 was a seasonal loss due to winter effects in NCC Industry (asphalt operations). EBIT was SEK-170m (14% below our estimate, 10% below Infront consensus). However, given the low season, the Q1 miss had a limited effect – a c1% hit to full-year EPS. We reiterate our BUY and highlight our view that ongoing sold and initiated property developments are likely to drive positive EPS momentum to 2028, but have cut our target price to SEK210 (2...

Q1 beat, but muted Q2 guidance

Undramatic quarter

Seafood - Chilean biomass update

Seafood - Chilean biomass update

Seafood - Fat Trout Weekly

Seafood - Fat Trout Weekly

SalMar (Buy, TP: NOK650.00) - Minor model adjustments

We have updated our estimates for the volumes in the recent Q1 trading update and a back-end-loaded harvest profile in the quarter, with a higher share of downgrades. We expect operating EBIT of NOK997m for the quarter, c16% below consensus of NOK1,188m. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our NOK650 target price. The full Q1 report is due at 06:30 CET on 20 May.

Definite merger agreement with Wilsgård