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NCC's share price surged 6.6% to SEK 176.90 on the Stockholm Stock Exchange following a buy recommendation from Nordea. The bank has significantly raised its fourth-quarter earnings estimates, anticipating several billion kronor in profits from real estate transactions and a dividend increase to SEK 11 per share.
Global growth is moderate, with the US benefiting from the presidential election while Europe lags. In the Nordic region, strong private consumption is expected due to favorable job prospects and rising disposable income, despite challenges like low consumer confidence in Denmark and a weak economic cycle in Finland. Norway's economy is growing with low unemployment and wage growth outpacing inflation, while Sweden anticipates a recovery in domestic demand supported by lower interest rates.
Nordea Bank analysts predict that Sweden and Norway will conclude their easing cycles by July, with the Riksbank and Norges Bank reaching terminal rates of 2% and 4%, respectively. This outlook aligns with broader consensus, although Norway's estimates are lower than recent forecasts. Despite potential trade tariff impacts from the US, domestic demand is expected to drive economic growth in the Nordic region, supported by rising private consumption due to improved employment and disposable incomes.
Nordea forecasts a recovery in Swedish household purchasing power, predicting GDP growth of 0.6% in 2024, 1.6% in 2025, and 2.6% in 2026, despite ongoing political uncertainty. Interest rate cuts are expected to bolster domestic demand, while wage agreements may lead to annual increases of around 3.5%. Public investment is rising, particularly in defense and infrastructure, even as housing investment continues to decline.
Global growth is moderate, with the US benefiting from the presidential election while Europe lags. In the Nordic region, strong private consumption is expected due to favorable job prospects and falling interest rates, despite challenges in Denmark and Finland. Norway and Sweden are poised for recovery, supported by low inflation and increased purchasing power.
BNP Paribas Exane has raised its target price for Nordnet to SEK 195 from SEK 185, while maintaining an underperform rating. Nordnet AB, a Sweden-based company, provides a digital platform for savings and investments, catering to private savers in Sweden, Norway, Denmark, and Finland. The platform offers low-cost financial products and features a social investment network with over half a million members.
UBS has maintained a 'Buy' rating for Orsted, setting a target price of 520 Danish kroner. Analyst Mark Freshney highlighted concerns over further write-downs and delays in the Sunrise Wind project, which are impacting the company's outlook. Orsted, a leading Danish energy firm, primarily focuses on offshore wind farms, contributing significantly to its revenue.
UBS has maintained a "Neutral" rating for Nemetschek, setting a target price of 115 euros, following the company's strong annual results. Analyst Michael Briest noted the absence of new signals for 2025. Meanwhile, the Adler Group is managing high borrowing costs, and PNE has sold its Swedish business.
E.ON SE, a leading electricity and gas producer and distributor, generates net sales primarily from electric energy (61.7%) and gas distribution (25.6%), with other activities accounting for 12.7%. Geographically, sales are concentrated in Germany (40%) and the United Kingdom (35.4%), with smaller shares in Sweden (2.3%), the Netherlands (1.5%), and other European regions (20.7%).
Analysts have updated their recommendations for several companies, with notable changes including Accor's price target raised to EUR 54 and Legrand upgraded to buy with a target of EUR 125. UBS Group was downgraded to underperform, while Renault's target increased to EUR 68. Other adjustments include Michelin and Ipsen, both seeing target revisions.
SWE
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ncc shares surge after nordea's positive buy recommendation and earnings forecast
14:32 22.01.2025
nordic economies poised for recovery amid global growth uncertainties
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Nordea predicts end of easing cycle for Sweden and Norway by July
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