DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

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Ticker Underlying First Report Latest Report
551333 BMG9108L1081 Tsakos Energy Navigation Ltd. 2018/03/09 2018/03/09
677102 BMG9456A1009 Golar LNG Ltd. 2017/08/04 2019/10/11
866931 US6701002056 Novo Nordisk A/S ADS 2017/07/21 2018/05/03
889539 LU0075646355 Subsea 7 S.A. 2017/07/24 2019/10/16
A0M140 CY0100470919 Prosafe S.E. 2017/08/24 2019/09/25
A0M9XA MHY8565N1022 Teekay Tankers 2017/07/18 2019/10/11
A0MR2M MHY8565J1010 Teekay Offshore Partners L. P. 2017/09/12 2017/09/12
A0Q2R4 MHY7388L1039 Safe Bulkers Inc. 2017/07/07 2019/10/01
A111D5 SE0005757267 Recipharm publ AB 2017/11/13 2019/10/10
A116X2 SE0005999760 Scandi Standard publ AB 2017/08/23 2019/09/02
A12A18 NO0010716582 Aker Solutions ASA 2017/07/07 2017/07/12
A12AE3 NO0010387004 Norwegian Finans Holding ASA 2017/10/05 2019/10/16
A12CQT NO0010716863 XXL ASA 2017/07/21 2019/09/12
A12DBZ NO0010716418 Entra ASA 2017/07/12 2019/10/11
A140RV SE0007491303 Bravida Holding AB 2018/09/27 2019/05/09
A1428F NO0010739402 Sbanken 2017/10/04 2019/09/30
A1437L SE0007691613 Dometic Group AB 2019/05/23 2019/07/18
A14QFJ SE0006826046 Evolution Gaming Group 2017/07/20 2019/10/03
A14U1Q NO0010735343 Europris ASA 2017/07/14 2019/09/16
A14U1R SE0007100359 Pandox Ab 2017/11/10 2019/10/11
A14U1Y SE0007158829 Coor Service Management Holding AB 2017/07/06 2019/07/19
A14UNX SE0007158910 Alimak Group AB 2017/07/06 2019/10/03
A1C609 BMG850801025 Stolt-Nielsen Ltd. 2017/07/07 2019/10/07
A1JYNN GB00B4VLR192 Ensco Intl Inc 2017/10/27 2019/10/15
A1W1K1 NO0010657448 Ocean Yield ASA 2017/07/07 2019/10/01
A1W81N BMG173841013 BW LPG LTD 2017/07/06 2019/10/14
A1W86Q GB00BFG3KF26 Noble Corp plc 2017/08/01 2019/06/13
A1XA9J FI4000074984 Valmet 2017/04/09 2019/10/14
A1XEHR FR0011726835 GTT 2018/03/09 2018/03/09
A2ABGP SE0007640156 Scandic Hotels Group 2017/07/07 2018/04/27
A2AD7B BMG3682E1277 Frontline Ltd. 2018/09/13 2018/11/02
A2AFX9 SE0008040653 Humana AB 2017/11/03 2019/08/19
A2ALPJ NO0010633951 B2Holding ASA 2017/08/28 2019/09/02
A2ALUM SE0007897079 AcadeMedia AB 2017/07/10 2019/10/08
A2AQM7 SE0005569100 Axactor SE 2017/07/20 2018/10/31
A2ATU3 SE0009155005 Ahlsell 2017/07/12 2019/03/01
A2DN2N SE0009663826 Ambea 2018/03/09 2019/08/21
A2DPY8 SE0009269467 Actic Group AB 2017/11/14 2019/08/23
A2DS20 SE0009922164 Essity Aktiebolag B 2017/10/27 2019/10/09
A2DSQA SE0009922305 Momentum Group 2017/11/02 2019/10/11
A2DSSV NO0010792625 Fjord1 AS 2018/10/10 2019/10/10
A2DTEV NO0010751910 SpareBank 1 Ostlandet 2017/07/10 2018/05/02
A2H5GS SE0010323311 BioArctic AB 2017/11/21 2019/07/22
A2JAU0 BMG1466R1088 Borr Drilling 2018/01/29 2019/10/15
A2JGEL NO0010816093 Elkem ASA 2018/04/17 2018/05/11
A2JJ96 SE0000950636 Fabege AB 2017/07/07 2019/10/11
A2JMS4 SE0011166941 Epiroc B 2018/06/18 2019/10/04
ABB INE117A01022 ABB India 2018/09/02 2019/10/04
AFG NO0003078107 AF Gruppen ASA 2017/08/10 2019/10/08
AKER NO0010234552 Aker ASA 2018/03/23 2019/09/25
AKSO NO0010215684 Akastor ASA 2017/07/07 2019/09/25
ALFA GB00BDHXPG30 Alfa Financial Software Holdings 2017/07/18 2019/10/04
ALK B DK0060027142 ALK-Abello A/S 2017/11/03 2019/08/14
ALV US0528001094 Autoliv Inc. 2017/10/27 2019/10/04
AMBU B DK0060591204 Ambu AS 2018/08/15 2019/08/26
ARCHER BMG0451H1170 Archer Ltd 2017/10/25 2019/09/25
ATEA NO0004822503 Atea ASA 2017/07/11 2019/10/14
ATLAS TRAATLAS91Q9 Atlas Menkul Kiymetler Yatirim Ortakligi 2018/04/06 2018/05/11
ATORX SE0000767188 Alligator Bioscience AB 2017/08/24 2019/07/16
ATW.. US0500951084 ATWOOD OCEANICS 2018/03/23 2018/09/28
AUSS NO0010073489 Austevoll Seafood ASA 2017/08/25 2019/10/11
AVACF BMG067231032 AVANCE GAS HOLDINGS LTD 2017/07/06 2019/10/14
AWDR GB00B5LJSC86 Awilco Drilling 2018/09/06 2019/10/15
AXA SE0011309319 Axactor SE 2019/01/31 2019/07/09
AZA SE0000170110 AVANZA BANK HLDG NPV 2017/07/06 2019/10/10
BAKKA FO0000000179 Bakkafrost P/F 2017/11/14 2019/10/11
BALD B SE0000455057 Fastighets AB Balder B 2017/11/03 2019/10/11
BBTO B SE0000101362 Bergman & Beving 2017/11/02 2019/10/11
BETS B SE0011089259 Betsson 2019/01/09 2019/10/03
BETS IL B SE0009806870 Betsson AB 2017/07/04 2017/07/04
BGBIO NO0010650013 Bergenbio ASA 2018/02/13 2019/08/21
BILL SE0000862997 BillerudKorsnas 2017/09/21 2017/09/22
BRAV US10566Y1001 Bravada International Ltd 2019/07/04 2019/10/14
BRG NO0010657505 Borregaard 2017/07/19 2019/10/14
BWO BMG1190N1002 BW Offshore 2018/01/16 2019/09/25
CARL B DK0010181759 Carlsberg A/S B 2017/10/13 2019/09/25
CAST SE0000379190 Castellum AB 2017/07/13 2019/10/11
CATE SE0001664707 Catena AB 2019/09/23 2019/10/11
CGCBV FI0009013429 Cargotec Oyj 2017/10/10 2019/10/14
CGG FR0013181864 CGG 2018/05/17 2019/10/10
CGG. US12531Q2049 CGG ADR 2018/02/22 2018/03/23
CHR DK0060227585 Chr. Hansen Holding A/S 2017/10/09 2019/10/11
COLO B DK0060448595 Coloplast A/S Series B, 2017/10/17 2019/08/21
CTY1S FI0009002471 Citycon Oyj 2017/07/13 2019/10/11
DANSKE DK0010274414 Danske Bank A/S 2017/07/20 2019/10/16
DETNOR NO0010345853 Aker BP ASA 2017/07/12 2019/10/13
DHT MHY2065G1219 DHT Holdings 2017/07/09 2019/10/11
DNB NO0010031479 DNB 2017/07/12 2019/09/30
DNO NO0003921009 DNO 2017/08/21 2019/10/13
DNORD DK0060083210 S Norden A/S 2017/11/10 2019/10/01
DO US25271C1027 Diamond Offshore Drilling Inc. 2017/10/31 2019/10/15
DOF NO0010070063 DOF ASA 2018/03/23 2019/09/25
DSX MHY2066G1044 Diana Shipping Inc. 2018/03/09 2018/03/09
E:SSOL NO0010715139 Scatec Solar ASA 2019/03/26 2019/10/08
EGLE MHY2187A1432 Eagle Bulk Shipping 2018/06/18 2019/10/01
EIOF NO0010263023 Eidesvik 2018/03/23 2018/09/28
EKTA B SE0000163628 Elekta AB Series B 2017/11/27 2019/08/23
ELI1V FI0009007884 Elisa Oyj 2019/04/08 2019/10/14
ELK AU000000ELK1 Elk Petroleum 2018/07/05 2019/04/08
ELUX B SE0000103814 Electrolux AB B 2017/10/12 2019/10/08
EPIS B SE0003491562 Episurf Medical AB 2018/12/07 2019/07/22
ERIC B SE0000108656 L.M. Ericsson Telephone Co. B 2019/10/08 2019/10/14
EURN BE0003816338 Euronav 2017/07/09 2019/10/11
EVRY NO0010019649 Evry ASA 2017/11/13 2019/07/16
FABG SE0011166974 FABEGE 2018/04/27 2018/04/27
FLNG BMG359471031 Flex LNG Ltd. 2017/08/24 2019/10/11
FLS DK0010234467 FLSmidth & Co. A/S 2018/01/28 2019/10/14
FLXNF VGG359451074 FLEX LNG Ltd 2018/05/23 2019/10/01
FOE NO0003089005 Fred. Olsen Energy ASA 2017/10/23 2019/09/25
FPM GB0033032904 Faroe Petroleum PLC 2017/09/04 2018/08/09
FRO BMG3682E1921 Frontline Ltd. 2017/07/09 2019/10/11
FUM1V FI0009007132 Fortum Oyj 2017/07/20 2019/02/05
GEN DK0010272202 Genmab A/S 2019/01/09 2019/10/16
GETI B SE0000202624 Getinge AB B 2017/10/18 2019/09/26
GJF NO0010582521 Gjensidige Forsikring ASA 2017/07/14 2019/10/07
GLOG BMG375851091 GasLog 2017/08/02 2019/10/11
GMLP MHY2745C1021 Golar LNG Partners LP 2017/08/04 2019/10/11
GN DK0010272632 GN Store Nord A/S 2017/07/19 2019/10/14
GNK MHY2685T1313 Genco Shipping & Trading Ltd. 2017/07/13 2019/10/01
GNRT MHY268891089 Gener8 Maritime 2017/07/13 2018/03/06
GOGL BMG396372051 Golden Ocean Group Limited 2017/07/07 2019/10/01
GSF NO0010365521 Grieg Seafood ASA 2017/08/24 2019/10/11
HANDI SE0010298109 Handicare Group AB 2017/11/19 2019/10/14
HELG NO0010029804 Helgeland Sparebank ASA 2017/10/31 2019/09/30
HEMF SE0007126115 Hemfosa Fastigheter AB 2017/12/06 2019/10/11
HEX NO0003067902 Hexagon Composites ASA 2017/08/08 2019/08/15
HEXA B SE0000103699 Hexagon AB B 2017/10/30 2019/10/04
HLNG BMG454221059 Hoegh LNG AS 2017/08/24 2019/10/11
HM B SE0000106270 H & M Hennes & Mauritz AB B 2017/12/12 2019/10/04
HMLP MHY3262R1009 Hoegh LNG Partners LP 2017/08/24 2019/05/29
HMS SE0009997018 HMS Networks AB 2019/05/27 2019/09/26
HUFV A SE0000170375 Hufvudstaden A 2017/11/13 2019/10/11
HUNT NO0010283211 Hunter Group ASA 2018/10/03 2019/10/11
HUSQ B SE0001662230 Husqvarna AB B 2017/10/23 2019/10/07
IAR B SE0005851706 IAR Systems Group AB 2018/04/09 2019/10/16
ICE BE0003860773 Ice Concept S.A. 2019/06/27 2019/09/05
INDU A SE0000190126 Industrivarden AB Series A 2018/05/20 2019/10/13
INVE B SE0000107419 Investor AB B 2017/10/08 2019/10/13
JM SE0000806994 JM AB 2017/07/14 2019/10/08
KCR1V FI0009005870 Konecranes Oyj 2017/10/26 2019/10/14
KINV B SE0008373906 Kinnevik AB 2017/10/26 2019/10/13
KLED SE0000549412 Kungsleden AB 2017/07/12 2019/10/11
KNEBV FI0009013403 Kone Oyj B 2017/07/19 2019/10/14
KNOP MHY481251012 KNOT Offshore Partners 2018/03/09 2018/03/09
KOG NO0003043309 Kongsberg Gruppen ASA 2017/11/14 2019/10/16
KVAER NO0010605371 Kvaerner ASA 2018/03/23 2019/09/25
LEO CA5263673058 Leo Resources Inc 2018/10/15 2019/10/02
LJGR B SE0000191827 Atrium Ljungberg AB Series B 2018/08/30 2019/10/11
LOOM B SE0002683557 Loomis AB (Series B) 2017/10/20 2019/10/08
LPG MHY2106R1100 Dorian LPG 2017/07/06 2019/10/14
LSG NO0003096208 Leroy Seafood Group ASA 2017/08/24 2019/10/11
LUN CA5503721063 Lundin Mining Corp. 2017/07/19 2019/09/17
LUND B SE0000108847 L.E. Lundbergfoeretagen AB B 2017/11/23 2019/10/13
LUPE SE0000825820 Lundin Petroleum AB 2017/07/27 2018/08/01
MAERSK B DK0010244508 A.P. Moller-Maersk A/S Series B 2017/10/30 2019/10/01
MEDI NO0010159684 Medi-Stim ASA 2017/07/28 2019/08/21
MEO1V FI0009007835 Metso Corp. 2018/01/28 2019/07/22
METSB FI0009000665 Metsa Board OYJ 2017/07/24 2017/10/03
MGN NO0010187032 Sevan Marine ASA 2018/03/23 2018/09/28
MHG NO0003054108 Marine Harvest ASA 2017/07/14 2019/10/14
MIICF LU0038705702 Millicom International Cellular S.A. 2018/02/08 2019/10/16
MING NO0006390301 SpareBank 1 SMN 2017/08/09 2019/09/30
MKRRF SE0001785270 MELKER SCHORLING AB 2017/11/10 2018/01/12
MORG NO0006390004 Sparebanken More 2017/08/10 2019/09/30
MSEIS NO0010663669 Magseis 2019/08/26 2019/10/16
MTG B SE0000412371 Modern Times Group AB Cl B 2017/10/19 2019/07/08
NANO NO0010597883 Nordic Nanovector ASA 2017/08/23 2019/09/18
NAS NO0010196140 Norwegian Air Shuttle ASA 2017/07/06 2019/10/11
NCC GB00B01QGK86 NCC Group PLC 2017/07/11 2017/07/20
NCC B SE0000117970 NCC AB Series B 2017/10/17 2019/10/08
NDA DKK SE0000427361 Nordea Bank Abp 2017/10/26 2019/10/15
NHY NO0005052605 Norsk Hydro ASA 2017/07/26 2019/10/14
NOBI SE0000949331 Nobia AB 2017/07/05 2019/09/26
NOD NO0003055501 Nordic Semiconductor ASA 2017/07/10 2019/10/16
NOK1V FI0009000681 Nokia Corp. 2019/10/08 2019/10/08
NONG NO0006000801 SpareBank 1 Nord-Norge 2017/08/09 2019/09/30
NOVO B DK0060534915 Novo Nordisk A/S B 2017/10/19 2019/09/23
NPRO NO0010317811 Norwegian Property ASA 2017/07/12 2019/10/11
NRC NO0003679102 NRC Group ASA 2017/11/07 2019/10/08
NRE1V FI0009005318 Nokian Renkaat Oyj 2017/07/05 2019/09/23
NRS NO0010331838 Norway Royal Salmon ASA 2017/11/07 2019/10/11
NVP SE0002575340 NeuroVive Pharmaceutical AB 2018/10/25 2019/08/27
NZYM B DK0060336014 Novozymes A/S B 2017/10/16 2019/10/11
ODF NO0003399909 Odfjell ASA 2017/08/25 2019/10/01
OLT NO0005638858 Olav Thon Eiendomsselskap ASA 2017/08/25 2019/10/11
ONCO SE0009414576 Oncopeptides AB 2017/08/26 2019/09/17
OPERA NO0010040611 Otello Corp ASA 2019/04/04 2019/08/22
ORI AU000000ORI1 Orica Ltd. 2018/08/02 2019/07/08
ORI SDB CH0256424794 Oriflame Holding 2017/08/01 2018/05/07
ORIG KYG669641006 Ocean Rig UDW Inc 2017/09/01 2018/10/29
ORK NO0003733800 Orkla ASA 2017/07/14 2019/09/26
OTE1V FI0009014575 Outotec Oyj 2018/01/28 2019/07/22
OUT1V FI0009002422 Outokumpu Oyj 2017/06/23 2019/02/05
PACDQ LU1405802361 Pacific Drilling Ltd 2018/01/29 2019/10/15
PEAB B SE0000106205 Peab AB B 2017/10/25 2019/10/08
PGS NO0010199151 Petroleum Geo-Services ASA 2017/07/28 2019/10/10
PLCS KYG7153K1085 Polarcus Ltd. 2017/08/04 2019/10/10
PNDORA DK0060252690 Pandora A/S 2017/12/14 2019/10/09
QFR NO0003103103 Q-Free ASA 2018/08/09 2018/08/09
RDC GB00B6SLMV12 Rowan Companies plc 2017/08/01 2019/09/25
REZT SE0001857533 Radisson Hospitality AB 2017/07/21 2019/03/22
RIGN CH0048265513 Transocean Ltd. 2017/08/01 2019/10/15
RISE MTF SE0009143993 Ripasso Energy AB 2018/04/24 2019/08/28
SALM NO0010310956 Salmar ASA 2017/08/25 2019/10/11
SAMAS FI0009003305 Sampo Oyj Series A 2017/10/25 2019/10/07
SAND SE0000667891 Sandvik AB 2017/10/06 2019/10/04
SAS DKK SE0003366871 SAS 2018/09/03 2019/10/07
SBLK MHY8162K2046 Star Bulk Carriers 2019/01/07 2019/10/01
SBO NO0010612450 Selvaag Bolig AS 2017/10/03 2019/10/08
SCH NO0003028904 Schibsted A 2018/09/24 2019/10/01
SDRL BMG7945E1057 SeaDrill Ltd 2017/08/24 2019/10/15
SEB A SE0000148884 Skandinaviska Enskilda Banken AB A 2017/10/25 2019/10/01
SECU B SE0000163594 Securitas AB Series B 2017/10/19 2019/10/14
SFL BMG810751062 Ship Finance International Ltd. 2019/09/16 2019/10/01
SIOFF KYG813131011 Siem Offshore Inc 2018/03/23 2018/09/28
SKA B SE0000113250 Skanska AB Series B 2017/10/25 2019/10/08
SKF B SE0000108227 SKF AB B 2017/11/01 2019/10/04
SOBI SE0000872095 Swedish Orphan Biovitrum AB 2018/09/17 2019/10/02
SOFF NO0003080608 Solstad Offshore ASA 2018/03/23 2018/09/28
SOLON NO0003106700 Solon Eiendom ASA 2017/10/03 2019/10/08
SOR NO0006001502 Sparebanken Sor 2017/10/26 2019/09/30
SPM IT0005252140 Saipem 2017/07/24 2018/09/28
SPOG NO0006222009 Sparebanken Ost ASA 2017/07/13 2019/09/30
SPU NO0010429145 Spectrum ASA 2017/10/09 2019/09/25
SRBANK NO0010631567 Sparebank 1 SR Bank 2017/08/09 2019/09/30
SSAB A SE0000171100 SSAB AB A 2017/10/10 2019/02/05
SSC JE00B61ZHN74 Scottish Salmon Co. Ltd. 2017/11/23 2019/09/04
SSG NO0010781206 Self Storage Group 2018/04/03 2018/04/03
STB NO0003053605 Storebrand ASA 2017/07/13 2019/10/11
STERV FI0009005961 Stora Enso Oyj R 2019/04/02 2019/07/22
STL NO0010096985 Equinor ASA 2017/07/24 2019/10/13
STNG MHY7542C1066 Scorpio Tankers 2017/07/19 2019/10/01
SVEG NO0006000900 Sparebanken Vest 2018/12/13 2019/09/30
SWED A SE0000242455 Swedbank AB Series A 2017/10/24 2019/10/01
SWMA SE0000310336 Swedish Match AB 2017/07/06 2019/07/22
TEC GB00BDSFG982 TechnipFMC 2017/07/24 2019/09/25
TEL NO0010063308 Telenor ASA 2017/07/10 2019/09/09
TELL US87968A1043 Tellurian Inc 2019/02/01 2019/09/24
TGS NO0003078800 TGS-NOPEC Geophysical Co. ASA, 2017/08/04 2019/10/10
THUL SE0006422390 Thule Group AB 2017/10/02 2017/10/02
TLSN SE0000667925 Telia Co AB 2017/10/13 2019/10/14
TOM NO0005668905 Tomra Systems ASA 2017/07/14 2019/10/15
TOP DK0060477503 Topdanmark A/S 2017/07/19 2019/10/07
TREL B SE0000114837 Trelleborg AB Series B 2017/10/30 2019/10/04
TRVX NO0010689326 Targovax AS 2017/08/24 2019/08/27
TRYG DK0060636678 Tryg A/S 2017/07/11 2019/10/11
ULTIMO NO0010851603 Ultimovacs 2019/07/19 2019/08/22
UPM1V FI0009005987 UPM-Kymmene Oyj 2017/07/19 2019/07/10
VEI NO0005806802 Veidekke ASA 2017/08/10 2019/10/08
VICO ID1000128002 Victoria Investama 2019/06/18 2019/08/29
VITIF SE0000816043 Vitrolife AB 2017/07/17 2019/10/15
VOLV B SE0000115446 Volvo AB Series B 2017/10/10 2019/10/07
VWS DK0010268606 Vestas Wind Systems A/S 2017/07/24 2019/08/16
WALL B SE0007074844 Wallenstam AB 2017/10/26 2019/10/11
WDH DK0060738599 William Demant Holdings A/S 2017/07/19 2019/09/27
WRT1V FI0009003727 Wartsila Oyj B 2017/10/06 2019/10/14
WTX SE0008293674 Wilson Therapeutics AB 2017/08/24 2018/08/14
WWASA NO0010571680 Wallenius Wilhelmsen Logistics ASA 2017/11/08 2019/10/01
WWI NO0010571698 Wilhelm Wilhelmsen Holding 2017/08/08 2019/10/01
YAR NO0010208051 Yara International ASA 2017/07/19 2019/10/08
YTY1V FI0009800643 Yit Oyj 2017/10/18 2019/10/08

Analysts

  • Martin Arnell

    Analyst Years of Experience: 12
  • Karl-Johan Bonnevier

    Analyst Years of Experience: 28
  • Ole Martin Westgaard

    Analyst Years of Experience: 11
  • Mattias Holmberg

    Analyst Years of Experience: 3
  • Nicolas McBeath

    Analyst Years of Experience: 6 years of equity research experience
  • Nicolay Dyvik

    Analyst Years of Experience: 12
  • Simen Mortensen

    Analyst Years of Experience: 14
  • Jon Masdal

    Senior Analyst Years of Experience: 8
  • Christer Roth

    N/A
  • Martin Kaland

    Analyst Years of Experience: 3
  • Patrik Ling

    Senior Analyst Healthcare Years of Experience: 20
  • Niclas Gehin

    Analyst Years of Experience: 6
  • Alexander Aukner

    Senior Analyst Years of Experience: 12
  • Eivind Sars Veddeng

    Analyst Years of Experience: 5
  • Rune Majlund Dahl

    Analyst Years of Experience: 11
  • Mattias Montgomery

    Analyst Years of Experience: 4
  • Ole-Andreas Krohn

    Analyst Years of Experience: 12
  • Martin Huseby Karlsen

    Senior Analyst Years of Experience: 13
  • Antti Kansanen

    Analyst Years of Experience: 8
  • Jesper Ingildsen

    Junior Analyst Years of Experience: 3
  • Helge André Martinsen

    Analyst Years of Experience: 19
  • Christer Magnergård

    Head of Equities, Sweden and Senior Equity Analyst, Capital Goods & Automotiv Years of Experience: 13
  • Håkon Astrup

    Analyst Years of Experience: 8
  • Paul Harper

    Equity Strategist\Quant Analyst Years of Experience: 19
  • Kristian Tunaal

    Equity strategist Years of Experience: 20
  • Tone Bjørnstad Hanstad

    Analyst Years of Experience: 5
  • Jeanette Strøm Fjære

    Economist Years of Experience: 4
  • Ole André Kjennerud

    Economist Years of Experience: 6
  • Torbjørn Kjus

    Chief Oil Analyst Years of Experience: 15
  • Kyrre Aamdal

    Senior Economist Years of Experience: 30
  • Knut A. Magnussen

    Senior Economist Years of Experience: 29
  • Magnus Vie Sundal

    Credit Strategist Years of Experience: 7
  • Thomas Larsen

    Credit Research Analyst Years of Experience: 11
  • Martin Børter

    Credit Research Analyst Years of Experience: 8
  • Mikael Løkken Gjerding

    Credit Research Analyst Years of Experience: 9
  • Magne Østnor

    Currency Strategist Years of Experience: 12
  • Olof Larshammar

    Analyst Years of Experience:  10
  • Morten Jensen

    Global Head of Equity Research Years of Experience: 30
  • Marit Øwre-Johnsen

    Currency Analyst Years of Experience: 8
  • Kjersti Haugland

    Chief Economist Years of Experience: 14
  • Joachim Gunell

    Junior Analyst Years of Experience: 1
  • Christoffer Wang Bjørnsen

    Analyst Years of Experience: 3
  • Stefan Gauffin

    Analyst Years of Experience: 12
  • Frank Maaø

    Analyst Years of Experience: 20
  • Jørgen Lian

    Junior Analyst Years of Experience: 2
  • Kristina Solbakken Lund

    Credit Analyst Years of Experience: 5
  • Lovisa Runge

    Analyst Years of Experience: 1
  • Marius Knudssøn

    Analyst Years of Experience: 3
  • Vegard Kjølhamar

    Credit Research Analyst Years of Experience: 4
  • Shawn Courcelles

    Junior Credit Research Analyst Years of Experience: 1
  • Rolv Kristian Heitmann

    Credit Research Analyst Years of Experience: 7
  • Ole Einar Stokstad

    Head of Credit Research Years of Experience: 15
  • Nicolai Farstad Olsen

    Junior Analyst Years of Experience: 2
  • Mats Bye

    Junior Analyst Years of Experience: 3
  • Jon Berggren

    Junior Analyst
  • Knut Magnussen

    N/A
  • Karin Busch

    N/A
  • Jan Fredrik Tønnessen

    N/A
  • Jenny Lakin

    N/A
  • Martin Hoang Nguyen

    N/A
  • Tomi Railo

    N/A
  • Jimi Lehtonen

    N/A
  • Helene Kvilhaug Brøndbo

    N/A
  • Viktor Trollsten

    N/A
  • Ingvild Borgen Gjerde

    N/A
  • Niklas Wetterling

    N/A
  • Frank Maaø

    N/A
  • Ole Martin Westgaard

    N/A
  • Alexander Aukner

    N/A
  • Nicolay Dyvik

    N/A
  • Simen Mortensen

    N/A
  • Joachim Gunell

    N/A
  • Jon Masdal

    N/A
  • Ole-Andreas Krohn

    N/A
  • Paul Harper

    N/A
  • Jeanette Strøm Fjære

    N/A
  • Martin Arnell

    N/A
  • Eivind Sars Veddeng

    N/A
  • Knut Magnussen

    N/A
  • Helge André Martinsen

    N/A
  • Kjersti Haugland

    N/A
  • Magne Østnor

    N/A
  • Jørgen Lian

    N/A
  • Patrik Ling

    N/A
  • Rune Majlund Dahl

    N/A
  • Mats Bye

    N/A
  • Marius Knudssøn

    N/A
  • Christoffer Wang Bjørnsen

    N/A
  • Christer Magnergård

    N/A
  • Martin Huseby Karlsen

    N/A
  • Kyrre Aamdal

    N/A
  • Mattias Holmberg

    N/A
  • FICC Analyst FICC Analyst

    N/A
  • Håkon Astrup

    N/A
  • Jon Berggren

    N/A
  • Nicolas McBeath

    N/A
  • Olof Larshammar

    N/A
  • Karl-Johan Bonnevier

    N/A
  • Niclas Gehin

    N/A
  • Stefan Gauffin

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Eivind Sars Veddeng

Kongsberg Gruppen (Buy, TP: NOK150.00) - In line with consensus ahead of Q3

In line with consensus ahead of Q3

Stefan Gauffin

Millicom (Buy, TP: SEK630.00) - We expect improvements in Q3–Q4

We forecast a sequential improvement in Q3e service revenue and EBITDA, and for both a return to mid-single digit growth in Q4e. We see the shares under technical pressure due to the stock overhang relating to Kinnevik distributing Millicom shares to its shareholders. We reiterate our BUY and SEK630 target price ahead of the Q3 results, due at 22:00 CET on 23 October.

Martin Huseby Karlsen

Subsea 7 (Hold, TP: NOK90.00) - PLSVs can no longer be ignored

In our view, the market is obsessed with Subsea7’s quarterly order intake, while the PLSV situation in Brazil is still under-estimated. We believe the four PLSVs contracted with Petrobras until 2021/2022 contribute more than USD200m in annual EBITDA, equal to c40% of Subsea7’s ‘cash EBITDA’ for 2019. The outlook for these PLSVs is the single-most important factor for the company’s future earnings. In our view, the industry PLSV situation in Brazil is unfolding as badly as it could, with vessels going idle and no appetite for second-hand transactions. We have downgraded to HOLD (BUY), with a NO...

Ole-Andreas Krohn

Morning Presentation

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Mikael Løkken Gjerding

Refinancing challenges persist

Teekay Offshore Partners LP (TOO US) - Refinancing challenges persist (13 pages)

Martin Børter

May lean on its backlog

Höegh LNG Holdings Ltd (HLNG NO) - May lean on its backlog (11 pages)

Martin Børter

Strong liquidity through a challenging market

Klaveness Ship Holding AS () - Strong liquidity through a challenging market (10 pages)

Martin Børter

New set of risks

Golar LNG Partners LP (GMLP US) - New set of risks (10 pages)

Thomas Larsen

Hold your breath

Seadrill Ltd (SDRL NO) - Hold your breath (7 pages)

Eivind Sars Veddeng

Kongsberg Gruppen (Buy, TP: NOK150.00) - In line with consensus ahead of Q3

In line with consensus ahead of Q3

Stefan Gauffin

Millicom (Buy, TP: SEK630.00) - We expect improvements in Q3–Q4

We forecast a sequential improvement in Q3e service revenue and EBITDA, and for both a return to mid-single digit growth in Q4e. We see the shares under technical pressure due to the stock overhang relating to Kinnevik distributing Millicom shares to its shareholders. We reiterate our BUY and SEK630 target price ahead of the Q3 results, due at 22:00 CET on 23 October.

Martin Huseby Karlsen

Subsea 7 (Hold, TP: NOK90.00) - PLSVs can no longer be ignored

In our view, the market is obsessed with Subsea7’s quarterly order intake, while the PLSV situation in Brazil is still under-estimated. We believe the four PLSVs contracted with Petrobras until 2021/2022 contribute more than USD200m in annual EBITDA, equal to c40% of Subsea7’s ‘cash EBITDA’ for 2019. The outlook for these PLSVs is the single-most important factor for the company’s future earnings. In our view, the industry PLSV situation in Brazil is unfolding as badly as it could, with vessels going idle and no appetite for second-hand transactions. We have downgraded to HOLD (BUY), with a NO...

Håkon Astrup

Pareto Bank (Buy, TP: NOK51.00) - Positioned for further growth

We expect a Q3 ROE of 13.5% (results due out at c07:30 CET on 24 October), despite a drag from a higher capital base. Despite distribution constraints via Eiendomskreditt due to a lack of capital, we expect a slowdown in commercial real estate volumes, although we still believe the bank will report 2019 lending growth of ~NOK2bn. Our estimates are largely unchanged ahead of the Q3 report. We reiterate our BUY and NOK51 target price.

Håkon Astrup

Danske Bank (Buy, TP: DKK120.00) - Challenges more than reflected

We estimate a Q3 ROE of 7.2% (results due on 1 November at 08:00 CET). We expect the focus to be on a potential update regarding the strategic roadmap following the changes to management and the organisation during the quarter. Despite challenging underlying profitability, we continue to find this reflected in the current 2020e P/B of ~0.5x. We reiterate our BUY, but have cut our target price to DKK120 (135).

FICC Analyst FICC Analyst

Morgenrapport 16. oktober: Brexit-håp og gode kvartalsresultater

Morgenrapport 16. oktober: Brexit-håp og gode kvartalsresultater (2 pages)

FICC Analyst FICC Analyst

Daily Macro Brief 16 October: Gloomier forecasts from the IMF

Daily Macro Brief 16 October: Gloomier forecasts from the IMF (2 pages)

FICC Analyst FICC Analyst

Daily Macro Brief 15 October: Eurozone output up in August, trend remains stubbornly negative

Daily Macro Brief 15 October: Eurozone output up in August, trend remains stubbornly negative (2 pages)

FICC Analyst FICC Analyst

Morgenrapport 15. oktober: Kortvarig glede

Morgenrapport 15. oktober: Kortvarig glede (2 pages)

Kyrre Aamdal

Weekly Update: Positive trade deal outlook lifted rates

Weekly Update: Positive trade deal outlook lifted rates (2 pages)

Ole-Andreas Krohn

Morning Presentation

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Ole-Andreas Krohn

Morning Presentation

Eivind Sars Veddeng ...
  • Martin Arnell
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Ole-Andreas Krohn

Morning Presentation

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