Swedish Match AB

Swedish Match develops, manufactures, markets, and sells snus and snuff, other tobacco products (cigars and chewing tobacco), and lights (matches and lighters). Snus and snuff are smokeless tobacco products that are produced and sold primarily in Sweden, Norway and the U.S. Other tobacco products represent cigars and chewing tobacco manufactured and sold on the U.S. market. Lights include manufacturing and distribution of matches and lighters. Other operations are primarily the distribution of tobacco products on the Swedish market. Primary brands include General snus, Longhorn moist snuff, White Owl cigars, Red Man chewing tobacco, Fiat Lux matches, and Cricket lighters.
  • TickerSWMA
  • ISINSE0000310336
  • ExchangeNasdaq Nordic Stockholm
  • SectorTobacco
  • CountrySweden

Analysts

Alexander Aukner ...
  • Martin Arnell
  • Ole-Andreas Krohn

Northern Lights

Martin Arnell

Swedish Match (Buy, TP: SEK500.00) - Healthy ZYN expansion case

We maintain our BUY, with a new SEK500 (470) target price based on our raised forecast for Snus and moist snuff, driven by ZYN’s positive national US rollout. In our view, healthy growth in nicotine pouch sales, supported by a further ramp-up of distribution capacity, offsets the cigar risk approaching the FDA’s final guidance of a potential ban on flavoured cigars.

Casper Blom ...
  • Daniel Thorsson
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jannick Lindegaard Denholt
  • Mads Thinggaard
  • Olof Cederholm

Talking Points - Volvo (Buy): Findings from across the Atlantic

DSV Panalpina (Buy) Post-results comment: Citius, Altius, Fortius Volvo has a strong position, prepared for downturn Reiterate BUY and SEK 190 target price

Fredrik Ivarsson ...
  • Ludvig Kapanen

Swedish Match - Zyn – just getting started

Zyn set to generate 20% of group sales by 2021e A ban on flavoured cigars could make a small dent Reiterate BUY and TP SEK 510

Fredrik Ivarsson ...
  • Ludvig Kapanen

Swedish Match - Q3 beating estimates on all lines

Strong across the board Zyn now in 60,000 stores (2019 guidance reached) Consensus estimates expected to come up 5%

Martin Arnell

Swedish Match (Buy, TP: SEK500.00) - Healthy ZYN expansion case

We maintain our BUY, with a new SEK500 (470) target price based on our raised forecast for Snus and moist snuff, driven by ZYN’s positive national US rollout. In our view, healthy growth in nicotine pouch sales, supported by a further ramp-up of distribution capacity, offsets the cigar risk approaching the FDA’s final guidance of a potential ban on flavoured cigars.

Casper Blom ...
  • Daniel Thorsson
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jannick Lindegaard Denholt
  • Mads Thinggaard
  • Olof Cederholm

Talking Points - Volvo (Buy): Findings from across the Atlantic

DSV Panalpina (Buy) Post-results comment: Citius, Altius, Fortius Volvo has a strong position, prepared for downturn Reiterate BUY and SEK 190 target price

Fredrik Ivarsson ...
  • Ludvig Kapanen

Swedish Match - Zyn – just getting started

Zyn set to generate 20% of group sales by 2021e A ban on flavoured cigars could make a small dent Reiterate BUY and TP SEK 510

Fredrik Ivarsson ...
  • Ludvig Kapanen

Swedish Match - Q3 beating estimates on all lines

Strong across the board Zyn now in 60,000 stores (2019 guidance reached) Consensus estimates expected to come up 5%

Anders Idborg ...
  • Bengt Jonassen
  • Daniel Thorsson
  • Erik Moberg
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jan Erik Gjerland
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Morten Raunholt Eismark
  • Olof Cederholm
  • Oskar Vikström
  • Peter Kurt Nielsen
  • Petter Nystrøm
  • Simon Granath
  • Stefan Knutsson
  • Tobias Kaj

Talking Points - Ringkjøbing Landbobank (Sell): Downgrading after strong run

ABB Ltd (Hold) Post-results comment: Less drama soothes, but no game changer New NII initiatives eaten by lower IP income ahead We downgrade to SELL (Hold); TP down to DKK 445 (455)

1 director bought

A director at Swedish Match Ab bought 2,165 shares at 45.600USD and the significance rating of the trade was 58/100. 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 showing Close periods where trading activity is restricted under listing rules. The names of bo...

Alexander Aukner ...
  • Martin Arnell
  • Ole-Andreas Krohn

Northern Lights

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Eivind Sars Veddeng ...
  • Jesper Ingildsen
  • Martin Arnell
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Marius Knudssøn
  • Martin Arnell
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

SWEDISH MATCH AB with less fundamental stars is reduced to Neutral

SWEDISH MATCH AB (SE), a company active in the Tobacco industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date October 4, 2019, the closing price was SEK 393.20 and its expected value was estimated at SEK 400.50.

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...

MarketLine Department

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MarketLine Department

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Summary Marketline's British American Tobacco p.l.c. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by British American Tobacco p.l.c. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain it...

Expert Corporate Governance Service (ECGS)

Swedish Match April 09th, 2019

In general, Swedish Match is in compliance with the Swedish regulations relating to the organisation and procedures of the AGM. Under ITEM 11, the nomination committee proposes to increase the remuneration of the board of directors by almost 9%. In ECGS' view the current fees are already at the upper level of Swedish market practice for a company with the size and complexity of Swedish Match and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE. Under ITEM 16, the board of directors se...

Swedish Match – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 11/04/2018

In general, Swedish Match is in compliance with the Swedish regulations relating to the organisation and procedures of the AGM. Under ITEM 11, the nomination committee proposes to increase the remuneration of the board of directors by somewhere between 3.0% and 4.0%. In ECGS' view the current fees are already at the upper level of Swedish market practice for a company with the size and complexity of Swedish Match and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE. Under ITEM 14, the...

Dave Nicoski ...
  • John Betz

Vermilion Int'l Compass: Global Equity Strategy

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts. What is likely the least-used timeframe, monthly charts (> 20 years) offer the most clarity. And what's clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE's 20-year chart (below) reveals ...

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