Investor AB B

Investor AB is an industrial holding company. Through its subsidiaries, Co. invests in companies and industries. Co.'s holdings are divided into two business areas: Core Investments and Financial Investments. Core Investments consists of listed holdings, in which Co. is a major owner, and its wholly-owned subsidiaries. Financial Investments consists of Co.'s investments in EQT and Investor Growth Capital, its partner-owned investments and other investments and activities.
  • TickerINVE B
  • ISINSE0000107419
  • ExchangeNasdaq Nordic Stockholm
  • SectorFinancial Services
  • CountrySweden

Analysts

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor is still our sector top-pick due to its best-in-class NAV growth outlook; 2) Kinnevik’s Q2 report was a step in the right direction but we remain cautious regarding its near-term risk/reward; and 3) DI reported that Lundbergs and Industrivärden are sceptical about the potential spin-off of Sandvik SMT.

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Joachim Gunell

Investor (Buy, TP: SEK530.00) - Best-in-class NAV growth outlook

We appreciate Investor’s intensified active ownership and structural actions to crystallise values in its portfolio, and the Q2 report showed success in the right places. In our view, Investor has the best NAV growth outlook of the stocks in our coverage and its strong cash flow and balance sheet lend even more potential upside to our NAV forecast. At a 20% discount to our NAV estimate, we still see good value and believe benchmark index outperformance should continue. We reiterate our BUY and have raised our target price to SEK530 (520).

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor divested Aleris and Memira; 2) Creades and Öresund’s NAVs both slightly underperformed the market in Q2; and 3) we believe Öresund could start share buybacks to shrink its 9% discount to NAV, as seen historically.

Joachim Gunell

The weekly navigator

The key takeaways from last week include: 1) we reiterated our HOLD on Industrivärden, as we believe we are still in neutral territory in terms of the valuation and potential upside; 2) Kinnevik-owned GFG fell 4% in its public debut week, confirming our cautious view on Kinnevik’s shares; and 3) we still believe digital health company Livongo’s potential IPO later this year could prompt a considerable valuation uplift for Kinnevik.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor is still our sector top-pick due to its best-in-class NAV growth outlook; 2) Kinnevik’s Q2 report was a step in the right direction but we remain cautious regarding its near-term risk/reward; and 3) DI reported that Lundbergs and Industrivärden are sceptical about the potential spin-off of Sandvik SMT.

Joachim Gunell

Investor (Buy, TP: SEK530.00) - Best-in-class NAV growth outlook

We appreciate Investor’s intensified active ownership and structural actions to crystallise values in its portfolio, and the Q2 report showed success in the right places. In our view, Investor has the best NAV growth outlook of the stocks in our coverage and its strong cash flow and balance sheet lend even more potential upside to our NAV forecast. At a 20% discount to our NAV estimate, we still see good value and believe benchmark index outperformance should continue. We reiterate our BUY and have raised our target price to SEK530 (520).

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor divested Aleris and Memira; 2) Creades and Öresund’s NAVs both slightly underperformed the market in Q2; and 3) we believe Öresund could start share buybacks to shrink its 9% discount to NAV, as seen historically.

Joachim Gunell

The weekly navigator

The key takeaways from last week include: 1) we reiterated our HOLD on Industrivärden, as we believe we are still in neutral territory in terms of the valuation and potential upside; 2) Kinnevik-owned GFG fell 4% in its public debut week, confirming our cautious view on Kinnevik’s shares; and 3) we still believe digital health company Livongo’s potential IPO later this year could prompt a considerable valuation uplift for Kinnevik.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) EQT is said to be seeking an IPO valuation of EUR7bn, c70% above our estimated value, reinforcing our positive view on Investor; 2) GFG lowered its IPO pricing by more than a third ahead of its listing; yet 3) Kinnevik’s digital health company Livongo has filed for an IPO, which could trigger a considerable valuation uplift for Kinnevik.

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Håkon Astrup ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Mattias Montgomery
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Antti Kansanen ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Martin Arnell
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Mattias Montgomery
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling

On track for a strong comeback

INVESTOR AB sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of INVESTOR AB (SE), active in the Specialty Finance industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 12, 2018, the closing price was SEK 380.70 and its target price was estimated at SEK 361.66.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Investor AB - AGM 08 May 2019

In general, Investor is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 13a, the nomination committee seeks approval of the remuneration of the board of directors. Although the proposed fees are conform to Swedish market practice, ECGS does not approve of the partial payment in synthetic shares. Hence, ECGS recommends to vote OPPOSE. Under ITEMS 14a-14k, the (re-)election of the board of directors is proposed. In view of insufficient independent representation on the board of directors as well as concerns over ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities in Europe, Japan As markets pull back amid the tariff saga we continue to believe this is an attractive time to add exposure. This view is supported by the technicals with all major global indexes (MSCI ACWI, ACWI ex-U.S., EAFE, and EM) pulling back to their respective 200-day moving averages... see charts below. • Actionable Sectors: Services and Consumer Staples in Europe and Japan. We often view the Services Sector as a defensive way to invest in Technology. We also highlight several Consumer Staples stocks within Europe (the STOXX 600 Food & Beverage index remains leadersh...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

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