DNB Markets Stock Recommendations and Price Targets

This is a list of recent ratings by DNB Markets.

Date	Company Name	Action	Current Price	Price Target	Rating
9/10/2025	EE Excelerate Energy	Set Price Target	$29.00	$31.00
4/22/2025	GRGSF Grieg Seafood ASA	Upgrade	$6.00		Buy
4/22/2025	GLNG Golar LNG	Upgrade	$39.00	$48.00	Hold ➝ Buy
4/1/2025	DTNOF Dno Asa	Downgrade	$1.00		Hold
2/19/2025	GLNG Golar LNG	Downgrade	$39.00		Buy ➝ Hold
1/27/2025	SB Safe Bulkers	Upgrade	$5.00	$4.20	Hold ➝ Buy
11/29/2024	TDW Tidewater	Initiated Coverage	$59.00	$70.00	Buy
11/21/2024	SBLK Star Bulk Carriers	Upgrade	$20.00	$19.30 ➝ $20.20	Sell ➝ Hold
10/11/2024	SBLK Star Bulk Carriers	Downgrade	$20.00		Hold ➝ Sell
9/12/2024	NVGS Navigator	Initiated Coverage	$18.00	$22.00	Buy
9/3/2024	RIG Transocean	Upgrade	$4.00		Hold ➝ Buy
8/19/2024	HSHP Himalaya Shipping	Downgrade	$10.00		Hold ➝ Sell
7/3/2024	LPG Dorian LPG	Upgrade	$25.00	$52.00	Hold ➝ Buy
6/13/2024	SDVKY Sandvik	Upgrade	$31.00		Hold ➝ Buy
1/26/2024	LPG Dorian LPG	Downgrade	$25.00	$44.00	Buy ➝ Hold
11/8/2023	GMAB Genmab A/S	Upgrade	$32.00		Sell ➝ Buy
10/10/2023	CHYHY Chr. Hansen Holding A/S	Upgrade	$20.00		Hold ➝ Buy
10/10/2023	TELNY Telenor ASA	Downgrade	$14.00		Buy ➝ Sell
10/10/2023	NVZMY Novozymes A/S	Upgrade	$62.00		Hold ➝ Buy
10/9/2023	NENTF Viaplay Group AB (publ)	Upgrade	$0.00		Sell ➝ Hold
10/5/2023	BKFKF P/F Bakkafrost	Downgrade	$44.00		Buy ➝ Hold
10/4/2023	AKBLF ALK-Abelló A/S	Upgrade	$36.00		Hold ➝ Buy
10/4/2023	SKFRY AB SKF	Upgrade	$27.00		Hold ➝ Buy
10/4/2023	SDVKY Sandvik	Downgrade	$31.00		Buy ➝ Hold
10/3/2023	NOK Nokia	Upgrade	$6.00		Hold ➝ Buy
9/19/2023	PGEJF Pgs Asa	Upgrade	$1.00		Sell ➝ Hold
9/19/2023	TGSNF Tgs Asa	Downgrade	$9.00		Buy ➝ Hold
9/18/2023	VLVLY AB Volvo	Upgrade	$31.00		Hold ➝ Buy
8/31/2023	DNNGY Ørsted A/S	Upgrade	$7.00		Sell ➝ Hold
8/29/2023	PGEJF Pgs Asa	Downgrade	$1.00		Hold ➝ Sell
8/25/2023	HNNMY Hennes & Mauritz	Upgrade	$4.00		Hold ➝ Buy
8/14/2023	ONPPF Oncopeptides AB (publ)	Downgrade	$0.00		Buy ➝ Hold
8/11/2023	HLMNY Holmen AB (publ)	Downgrade	$21.00		Hold ➝ Sell
8/11/2023	NVO Novo Nordisk A/S	Downgrade	$48.00		Buy ➝ Hold
8/10/2023	CHYHY Chr. Hansen Holding A/S	Downgrade	$20.00		Buy ➝ Hold
8/7/2023	AMKBY A.P. Moller-Maersk	Downgrade	$10.00		Hold ➝ Sell
8/3/2023	HXGCF Hexagon Composites ASA	Downgrade	$1.00		Buy ➝ Hold
7/27/2023	HXGBY Hexagon	Upgrade	$12.00		Hold ➝ Buy
7/25/2023	NENTF Viaplay Group AB (publ)	Downgrade	$0.00		Hold ➝ Sell
7/18/2023	KNKBF Kinnevik	Upgrade	$2.00		Sell ➝ Hold
7/17/2023	KHOTF Kahoot! ASA	Downgrade	$4.00		Buy ➝ Sell
7/17/2023	AKRYY Akastor ASA	Downgrade	$6.00		Buy ➝ Hold
7/17/2023	HMNKF HMS Networks AB (publ)	Upgrade	$48.00		Hold ➝ Buy
7/17/2023	ELMUF Elisa Oyj	Upgrade	$44.00		Sell ➝ Hold
7/12/2023	PGEJF Pgs Asa	Upgrade	$1.00		Sell ➝ Hold
7/10/2023	CLPBY Coloplast A/S	Upgrade	$9.00		Hold ➝ Buy
7/10/2023	AVACF Avance Gas	Downgrade	$0.00		Buy ➝ Hold
7/10/2023	LPG Dorian LPG	Downgrade	$25.00	$26.90	Buy ➝ Hold
7/5/2023	TLTZY Tele2	Upgrade	$8.00		Hold ➝ Buy
7/4/2023	CWQXF Castellum AB (publ)	Initiated Coverage	$11.00		Buy ➝ Buy
6/29/2023	ALFVY Alfa Laval	Upgrade	$50.00		Hold ➝ Buy
6/27/2023	GRGSF Grieg Seafood ASA	Upgrade	$6.00		Hold ➝ Buy
6/21/2023	HSQVY Husqvarna AB (publ)	Upgrade	$10.00		Sell ➝ Hold
6/20/2023	HXGBY Hexagon	Downgrade	$12.00		Buy ➝ Hold
6/20/2023	GNGBY Getinge	Downgrade	$22.00		Buy ➝ Hold
6/15/2023	SEOAY Stora Enso Oyj	Downgrade	$12.00		Buy ➝ Hold
6/14/2023	BDNNY Boliden AB (publ)	Downgrade	$99.00		Buy ➝ Hold
6/12/2023	WSSTF Western Bulk Chartering AS	Upgrade	$2.00		Hold ➝ Buy
6/9/2023	SALRF SalMar ASA	Upgrade	$54.00		Hold ➝ Buy
6/8/2023	NENTF Viaplay Group AB (publ)	Downgrade	$0.00		Buy ➝ Hold
6/8/2023	NSKFF Kongsberg Gruppen ASA	Initiated Coverage	$24.00		Buy ➝ Buy
6/7/2023	HLMNY Holmen AB (publ)	Downgrade	$21.00		Buy ➝ Hold
5/25/2023	SALRF SalMar ASA	Downgrade	$54.00		Buy ➝ Hold
5/17/2023	GRGSF Grieg Seafood ASA	Downgrade	$6.00		Buy ➝ Hold
5/4/2023	YITYY YIT Oyj	Downgrade	$1.00		Hold ➝ Sell
5/4/2023	NLTBF Nolato AB (publ)	Upgrade	$6.00		Hold ➝ Buy
4/28/2023	SSHPF Vow ASA	Upgrade	$0.00		Hold ➝ Buy
4/27/2023	GNGBY Getinge	Upgrade	$22.00		Hold ➝ Buy
4/26/2023	KHOTF Kahoot! ASA	Upgrade	$4.00		Hold ➝ Buy
4/26/2023	BRRGF BerGenBio ASA	Downgrade	$250.00		Hold ➝ Sell
4/18/2023	AKBLF ALK-Abelló A/S	Downgrade	$36.00		Buy ➝ Hold
4/16/2023	TLTZY Tele2	Downgrade	$8.00		Buy ➝ Hold
4/13/2023	BLRDF Billerud AB (publ)	Upgrade	$9.00		Hold ➝ Buy
4/12/2023	ARHVF Archer	Initiated Coverage	$2.00		Buy ➝ Buy
4/6/2023	IDTVF AB Industrivärden (publ)	Upgrade	$42.00		Hold ➝ Buy
3/30/2023	ERIC Ericsson	Upgrade	$10.00		Hold ➝ Buy
3/27/2023	TGSGY Tgs Asa	Upgrade	$9.00		Hold ➝ Buy
3/24/2023	XXLLY Xxl Asa	Initiated Coverage	$73,900.00		Hold ➝ Hold
3/23/2023	SUSRF Surgical Science Sweden AB (publ)	Initiated Coverage	$3.00		Buy
3/22/2023	AXFOF Axfood AB (publ)	Upgrade	$24.00		Hold ➝ Buy
3/17/2023	AKRTF Aker Solutions ASA	Upgrade	$3.00		Hold ➝ Buy
3/14/2023	DNNGY Ørsted A/S	Initiated Coverage	$7.00		Sell
3/10/2023	PSKRF Protector Forsikring ASA	Initiated Coverage	$50.00		Buy
3/2/2023	AMBBY Ambu A/S	Upgrade	$14.00		Hold ➝ Buy
2/24/2023	SSHPF Vow ASA	Downgrade	$0.00		Buy ➝ Hold
2/21/2023	WSSTF Western Bulk Chartering AS	Downgrade	$2.00		Buy ➝ Hold
2/20/2023	CRAYF Crayon Group Holding ASA	Downgrade	$15.00		Buy ➝ Hold
2/14/2023	SFL SFL	Downgrade	$8.00		Buy ➝ Hold
2/7/2023	MPZZF MPC Container Ships ASA	Downgrade	$2.00		Buy ➝ Hold
2/7/2023	FBGGF Fabege AB (publ)	Downgrade	$9.00		Buy ➝ Hold
2/3/2023	ALFVY Alfa Laval	Downgrade	$50.00		Buy ➝ Hold
2/2/2023	EPOKY Epiroc AB (publ)	Downgrade	$20.00		Buy ➝ Hold
2/1/2023	HSQVY Husqvarna AB (publ)	Downgrade	$10.00		Hold ➝ Sell
1/30/2023	HXPLF HEXPOL AB (publ)	Downgrade	$9.00		Buy ➝ Hold
1/27/2023	HMNKF HMS Networks AB (publ)	Downgrade	$48.00		Buy ➝ Hold
1/24/2023	KKOYY Kesko Oyj	Initiated Coverage	$11.00		Buy
1/17/2023	NOK Nokia	Downgrade	$6.00		Buy ➝ Hold
1/17/2023	ERIC Ericsson	Downgrade	$10.00		Hold ➝ Sell
1/11/2023	ELKEF Elkem ASA	Downgrade	$3.00		Buy ➝ Hold
1/6/2023	EQNR Equinor ASA	Upgrade	$23.00		Hold ➝ Buy