reports
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Olof Cederholm
VOLV B VOLVO AB CLASS B
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
HPOL B HEXPOL AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
- Mattias Holmberg
Sandvik (Buy, TP: SEK270.00) - Upside potential for mining
We have upgraded Sandvik to BUY (HOLD) as recent share price weakness coupled with strong mineral prices offer a good buying opportunity. Miners’ capex guidance suggests a 16% increase YOY in 2024, with potential upside near- and long-term as spot and forward rates remain clearly above ‘planning prices’. We have raised our adj. EBITA by 5% for 2024–2026e on average and our target price to SEK270 (245), with further upside potential to our SOTP of SEK285/share.
Cargotec has applied for Kalmar to be listed on Nasdaq Helsinki
Cargotec has applied for Kalmar to be listed on Nasdaq Helsinki CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 12 JUNE 2024 AT 12:00 P.M. (EEST) Cargotec has applied for Kalmar to be listed on Nasdaq Helsinki Cargotec Corporation (“Cargotec”) announced on 1 February 2024 the approval of a demerger plan concerning the partial demerger of Cargotec (the “Demerger Plan”) according to which all assets, debts and liabilities of Cargotec relating to the Kalmar business area or mainly serving the Kalmar business area shall be transferred without a liquidation procedure to a new Kalmar Corporat...
Nobia AB: 1 director
A director at Nobia AB sold 103,000 shares at 4.922SEK and the significance rating of the trade was 64/100. 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 showin...
- ABGSC Capital Goods Research
- Anders Idborg
- Olof Cederholm
Trelleborg AB: 1 director
A director at Trelleborg AB bought 1,000 shares at 415.200SEK and the significance rating of the trade was 69/100. 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...
Cargotec's Board of Directors organising meeting 2024
Cargotec's Board of Directors organising meeting 2024 CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 30 MAY 2024 AT 4:00 PM (EEST) Cargotec's Board of Directors organising meeting 2024 Cargotec Corporation's Board of Directors elected by the Annual General Meeting has in its organising meeting elected Ilkka Herlin as Chair of the Board. Jukka Moisio was elected as Vice Chair of the Board. The Board of Directors considers all members to be independent of the company and all except Ilkka Herlin to be independent of major shareholders. In the overall evaluation, the Board considered th...
Cargotecin hallituksen järjestäytymiskokous 2024
Cargotecin hallituksen järjestäytymiskokous 2024 CARGOTEC OYJ, PÖRSSITIEDOTE, 30. TOUKOKUUTA 2024 KLO 16.00 Cargotecin hallituksen järjestäytymiskokous 2024 Cargotec Oyj:n varsinaisessa yhtiökokouksessa valittu hallitus on järjestäytymiskokouksessaan valinnut Ilkka Herlinin hallituksen puheenjohtajaksi. Hallituksen varapuheenjohtajaksi valittiin Jukka Moisio. Hallitus arvioi, että kaikki hallituksen jäsenet ovat riippumattomia yhtiöstä ja Ilkka Herliniä lukuun ottamatta riippumattomia merkittävistä osakkeenomistajista. Kokonaisarviossaan hallitus otti huomioon Ilkka Herlinin yli 10...
Decisions taken at Cargotec's Annual General Meeting 2024
Decisions taken at Cargotec's Annual General Meeting 2024 CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 30 MAY 2024 AT 3:30 PM (EEST) Decisions taken at Cargotec's Annual General Meeting 2024 Cargotec Corporation's Annual General Meeting was held today 30 May 2024 in Helsinki, Finland. The Annual General Meeting approved a distribution of a dividend of EUR 2.14 per each class A share and a dividend of EUR 2.15 per each outstanding class B share be paid for the financial period ended 31 December 2023. The dividend shall be paid to a shareholder who on the record date of the dividend...
Cargotecin varsinaisen yhtiökokouksen 2024 päätökset
Cargotecin varsinaisen yhtiökokouksen 2024 päätökset CARGOTEC OYJ, PÖRSSITIEDOTE, 30. TOUKOKUUTA 2024 KLO 15.30 Cargotecin varsinaisen yhtiökokouksen 2024 päätökset Cargotec Oyj:n varsinainen yhtiökokous pidettiin tänään 30.5.2024 Helsingissä. Yhtiökokous vahvisti, että 31.12.2023 päättyneeltä tilikaudelta jaetaan osinkoa 2,14 euroa kutakin A-sarjan ja 2,15 euroa kutakin ulkona olevaa B-sarjan osaketta kohden. Osinko maksetaan osakkeenomistajalle, joka osingonmaksun täsmäytyspäivänä 3.6.2024 on merkitty Euroclear Finland Oy:n pitämään yhtiön osakasluetteloon. Osinko maksetaan...
- Mattias Holmberg
Volvo (Buy, TP: SEK325.00) - Slight upside to consensus for Q2e
We reiterate our BUY but have lowered our target price to SEK325 (340) ahead of the Q2 results, where we are 6% above consensus on adj. EBIT and expect unchanged 2024 market guidance. Our 2024e adj. EBIT is unchanged while we have cut our 2025–2026e by c3–4% (FX and organic), putting us 1–6% above consensus.
- Mattias Holmberg
ABB (Buy, TP: SEK625.00) - Deserves further re-rating
We are roughly in line with consensus for Q2 and expect ABB to reiterate its 2024 guidance and give Q3 guidance for mid-single-digit organic sales growth, with a stable operating EBITA margin QOQ and improved YOY. We reiterate our BUY and have made small positive changes to our estimates, and have raised our target price to SEK625 (595) as we believe the stock merits further re-rating to reflect the improved qualities of the ‘new’ ABB.
Valmet Oyj: 1 director
A director at Valmet Oyj sold 25,000 shares at 25.688EUR 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 show...
Inside information: MacGregor settles the dispute with a monopile inst...
Inside information: MacGregor settles the dispute with a monopile installation vessel customer and Cargotec starts the sales process of MacGregor CARGOTEC CORPORATION, INSIDE INFORMATION, 28 MAY 2024 AT 11:15 AM (EEST) Inside information: MacGregor settles the dispute with a monopile installation vessel customer and Cargotec starts the sales process of MacGregor As announced on 30 April 2024 in conjunction with Cargotec’s interim report January–March 2024, MacGregor has had a dispute related to one and only monopile installation vessel project. MacGregor and the customer have ...
Sisäpiiritieto: MacGregor on sopinut kiistan merituulivoimaloiden asen...
Sisäpiiritieto: MacGregor on sopinut kiistan merituulivoimaloiden asennusalusasiakkaan kanssa ja Cargotec aloittaa MacGregorin myyntiprosessin CARGOTEC OYJ, SISÄPIIRITIETO, 28. TOUKOKUUTA 2024 KLO 11.15 Sisäpiiritieto: MacGregor on sopinut kiistan merituulivoimaloiden asennusalusasiakkaan kanssa ja Cargotec aloittaa MacGregorin myyntiprosessin Cargotec ilmoitti 30. huhtikuuta 2024 julkaistun tammi–maaliskuun 2024 osavuosikatsauksen yhteydessä kiistasta, joka MacGregorilla on ollut yhteen ja ainoaan merituulivoimaloiden asennusalusprojektiin liittyen. MacGregor on nyt sopinut k...
- ABGSC Capital Goods Research
- Anders Idborg
- Olof Cederholm
- Mattias Holmberg
Autoliv (Buy, TP: SEK1570.00) - 2024e on track
We are roughly in line with Q2 consensus, and expect a 250bp QOQ improvement in the adj. EBIT margin (reflecting guidance of a similar quarterly trend as in recent years) while we also expect a reiteration of 2024 guidance. We estimate 28% adj. EBIT growth for 2024 and the cUSD0.8bn of the buyback mandate that remains for this year to further support the stock. We reiterate our BUY and have made no significant changes to our estimates but have trimmed our target price to SEK1,570 (1,600) due to ...
- Mattias Holmberg
Alfa Laval (Buy, TP: SEK535.00) - Heading for a record order quarter
We are 4% above consensus on Q2e orders where we expect strong end-markets to result in a record order intake of SEK19.3bn and a book-to-bill of 1.10x, but expect the company to guide for somewhat lower demand in Q2. We are in line with consensus on Q2 sales and 2% above on adj. EBITA. We have lowered our adj. EBITA for 2024–2026e by 2–5% (FX and organic), now in line with consensus on for 2024e but 5–7% above for 2025–2026e. We reiterate our BUY but have trimmed our target price to SEK535 (540)...
Cargotec publishes new long term financial targets for Hiab business a...
Cargotec publishes new long term financial targets for Hiab business area and information on planned management for standalone Hiab CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 27 MAY 2024 AT 9:30 PM EEST Cargotec publishes new long term financial targets for Hiab business area and information on planned management for standalone Hiab Cargotec publishes new long term financial targets for its Hiab business area and information on planned management for Cargotec as a standalone Hiab company ahead of the capital markets day, which will be held on 28 May 2024 starting at 2:30 pm (EES...
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