L.E. Lundbergfoeretagen AB B

L E Lundbergforetagen AB is an investment company that manages and develops a number of companies. The asset portfolio includes the wholly owned real estate company, Fastighets AB L E Lundberg, the publicly traded subsidiaries, Hufvudstaden and Holmen and the associated companies, Indutrade and Husqvarna. Co. also has major shareholdings in Industrivarden, Handelsbanken, Sandvik and Skanska. Co.'s subsidiary, L E Lundberg Kapitalforvaltning, is engages in securities trading. Operations consist of real estate operations, the manufacture and sale of printing paper, paperboard and sawn timber products, forest and power operations, and equity management (including securities trading).
  • TickerLUND B
  • ISINSE0000108847
  • ExchangeNasdaq Nordic Stockholm
  • SectorReal Estate Investment & 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.

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.

Joachim Gunell

The weekly navigator

Key takeaways from last week include: 1) Kinnevik’s CFO and sector head of TMT are to leave; 2) the price range of Kinnevik-owned GFG IPO was published; 3) Bure’s latest portfolio addition, Mentice, had a strong listing debut; and 4) Svolder’s Q3 2018/2019 earnings highlighted solid NAV growth in its SME portfolio, which clearly outperformed its small-cap benchmark index.

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

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.

Joachim Gunell

The weekly navigator

Key takeaways from last week include: 1) Kinnevik’s CFO and sector head of TMT are to leave; 2) the price range of Kinnevik-owned GFG IPO was published; 3) Bure’s latest portfolio addition, Mentice, had a strong listing debut; and 4) Svolder’s Q3 2018/2019 earnings highlighted solid NAV growth in its SME portfolio, which clearly outperformed its small-cap benchmark index.

Joachim Gunell ...
  • Jørgen Lian
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Joachim Gunell
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Paul Harper

Northern Lights

Joachim Gunell ...
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Jesper Ingildsen
  • Joachim Gunell
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Joachim Gunell ...
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

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)

Lundbergföretagen April 03th, 2019

In general, Lundbergforetagen is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 12, approval is sought for the re-election of the board of directors. Although there is just sufficient independent representation on the board, ECGS notes that the number of executives (3) sitting on the board is NOT in accordance with provision 4.3 of the Swedish Corporate Governance Code. Aforementioned provision stipulates that no more than one (1) member of the board may be a member of the executive management. Based on the abov...

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

MSCI EAFE inflecting, aided by strength in Japan Developed international (MSCI EAFE, local currency) is displaying a change in trend, bullishly inflecting topside its downtrend and putting an end to the YTD pattern of lower highs. Despite this incrementally positive development, our outlook remains neutral for MSCI EAFE as there are still many additional resistance areas the index needs to overcome before we would turn outright bullish... see chart below. • Japan: Not too late to add exposure. Improvements in Japan are leading broad developed int'l indexes higher. Last week we highlighted bu...

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