Nordea Equity Research Stock Recommendations and Price Targets

This is a list of recent ratings by Nordea Equity Research.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
10/12/2023	GMAB Genmab A/S	Downgrade	$28.00		Buy ➝ Hold	Low
9/12/2023	GJNSY Gjensidige Forsikring ASA	Upgrade	$14.00		Hold ➝ Buy	Low
8/31/2023	DNNGY Ørsted A/S	Downgrade	$18.00		Buy ➝ Hold	Low
8/29/2023	VWDRY Vestas Wind Systems A/S	Upgrade	$8.00		Hold ➝ Buy	Low
8/25/2023	NLTBF Nolato AB (publ)	Upgrade	$5.00		Hold ➝ Buy	Low
8/22/2023	ELKEF Elkem ASA	Downgrade	$2.00		Buy ➝ Hold	Low
8/8/2023	WILYY Demant A/S	Upgrade	$22.00		Hold ➝ Buy	Low
7/31/2023	FOJCY Fortum Oyj	Upgrade	$3.00		Hold ➝ Buy	Low
7/20/2023	VLVLY AB Volvo (publ)	Downgrade	$26.00		Buy ➝ Hold	N/A
7/17/2023	EQBBF EQT AB (publ)	Upgrade	$36.00		Hold ➝ Buy	Low
7/6/2023	HSQVY Husqvarna AB (publ)	Upgrade	$15.00		Sell ➝ Hold	Low
7/3/2023	TPDKY Topdanmark A/S	Downgrade	$4.00		Buy ➝ Hold	Low
6/22/2023	OSSFF Embla Medical hf.	Initiated Coverage	$5.00		Buy	Low
6/21/2023	RKWAF Rockwool A/S	Upgrade	$379.00		Sell ➝ Hold	Low
6/20/2023	NDCVF Nordic Semiconductor ASA	Upgrade	$8.00		Sell ➝ Buy	Low
6/7/2023	NENTF Viaplay Group AB (publ)	Downgrade	$0.00		Buy ➝ Hold	Low
6/6/2023	SREDY Storebrand ASA	Downgrade	$15.00		Buy ➝ Hold	Low
6/6/2023	REVXF Revenio Group Oyj	Upgrade	$28.00		Hold ➝ Buy	Low
5/23/2023	LYSFY Lerøy Seafood Group ASA	Downgrade	$9.00		Buy ➝ Hold	N/A
5/12/2023	SALRF SalMar ASA	Downgrade	$64.00		Buy ➝ Hold	Low
5/12/2023	RKWBF Rockwool A/S	Downgrade	$320.00		Hold ➝ Sell	Low
5/10/2023	ORKLY Orkla ASA	Upgrade	$7.00		Hold ➝ Buy	Low
5/5/2023	BKFKF P/F Bakkafrost	Downgrade	$59.00		Buy ➝ Hold	Low
5/2/2023	SBBTF Schibsted ASA	Upgrade	$17.00		Hold ➝ Buy	Low
4/14/2023	BIOVF Swedish Orphan Biovitrum AB (publ)	Upgrade	$23.00		Hold ➝ Buy	Low
4/6/2023	TBABF Trelleborg AB (publ)	Downgrade	$35.00		Buy ➝ Hold	Low
3/29/2023	SBBTF Schibsted ASA	Downgrade	$17.00		Buy ➝ Hold	Low
3/23/2023	BITGF Biotage AB (publ)	Downgrade	$17.00		Buy ➝ Hold	Low
2/24/2023	ADEVF Adevinta ASA	Upgrade	$11.00		Hold ➝ Buy	Low
2/23/2023	BTRCF Better Collective A/S	Downgrade	$26.00		Buy ➝ Hold	Low
2/17/2023	QTGPF Qt Group Oyj	Downgrade	$84.00		Buy ➝ Hold	Low
2/15/2023	NHYDY Norsk Hydro ASA	Upgrade	$6.00		Sell ➝ Hold	Low
2/13/2023	ORINF Orion Oyj	Downgrade	$47.00		Hold ➝ Sell	Low
2/10/2023	FSOYF WithSecure Oyj	Upgrade	$1.00		Hold ➝ Buy	Low
2/9/2023	PANDY Pandora A/S	Upgrade	$38.00		Sell ➝ Hold	Low
2/9/2023	EQNR Equinor ASA	Upgrade	$27.00		Hold ➝ Buy	Low
2/8/2023	NDCVF Nordic Semiconductor ASA	Downgrade	$8.00		Buy ➝ Sell	Low
2/8/2023	BDNNY Boliden AB (publ)	Downgrade	$63.00		Buy ➝ Hold	Low
2/7/2023	NWARF Norwegian Air Shuttle ASA	Upgrade	$2.00		Hold ➝ Buy	Low
2/6/2023	TELNY Telenor ASA	Upgrade	$11.00		Hold ➝ Buy	Low
2/3/2023	KNKBF Kinnevik	Downgrade	$11.00		Hold ➝ Sell	Low
2/2/2023	HSQVY Husqvarna AB (publ)	Downgrade	$15.00		Hold ➝ Sell	Low
2/2/2023	AXFOF Axfood AB (publ)	Downgrade	$27.00		Buy ➝ Sell	Low
1/31/2023	EKTAY Elekta AB (publ)	Upgrade	$7.00		Hold ➝ Buy	Low
1/31/2023	ALV Autoliv	Downgrade	$114.00		Buy ➝ Sell	Low
1/26/2023	AXFOF Axfood AB (publ)	Downgrade	$27.00		Buy ➝ Hold	Low
1/24/2023	ALFVY Alfa Laval Corporate	Downgrade	$38.00		Buy ➝ Hold	Low
1/13/2023	ATLKY Atlas Copco	Downgrade	$16.00		Buy ➝ Hold	Low
12/21/2022	HOEGF Höegh Autoliners ASA	Initiated Coverage	$9.00		Buy	N/A
12/20/2022	FNOXF Fortnox AB (publ)	Initiated Coverage	$7.00		Buy	Low
12/15/2022	BOZTY Boozt AB (publ)	Upgrade	$12.00		Hold ➝ Buy	Low
12/14/2022	SKFRY AB SKF (publ)	Downgrade	$20.00		Hold ➝ Sell	Low
12/12/2022	LYSFY Lerøy Seafood Group ASA	Upgrade	$9.00		Hold ➝ Buy	N/A
12/12/2022	SALRF SalMar ASA	Upgrade	$64.00		Hold ➝ Buy	Low
12/12/2022	BKFKF P/F Bakkafrost	Upgrade	$59.00		Hold ➝ Buy	Low
11/29/2022	JYSKY Jyske Bank A/S	Downgrade	$14.00		Buy ➝ Hold	Low
11/25/2022	ITJTY Intrum AB (publ)	Downgrade	$2.00		Buy ➝ Hold	Low
11/16/2022	DNBBY DNB Bank ASA	Upgrade	$19.00		Hold ➝ Buy	Low
11/8/2022	ISSDY ISS A/S	Upgrade	$9.00		Hold ➝ Buy	Low
11/3/2022	GRGSF Grieg Seafood ASA	Upgrade	$6.00		Hold ➝ Buy	Low
11/3/2022	ASTVF Austevoll Seafood ASA	Upgrade	$8.00		Hold ➝ Buy	Low
11/3/2022	LYSFY Lerøy Seafood Group ASA	Upgrade	$9.00		Sell ➝ Hold	N/A
10/31/2022	ARRJF Arjo AB (publ)	Downgrade	$5.00		Buy ➝ Hold	Low
10/28/2022	YITYY YIT Oyj	Downgrade	$1.00		Buy ➝ Hold	N/A
10/28/2022	NLTBF Nolato AB (publ)	Downgrade	$5.00		Buy ➝ Hold	N/A
10/28/2022	ORKLY Orkla ASA	Downgrade	$7.00		Buy ➝ Hold	N/A
10/28/2022	DNKEY Danske Bank A/S	Upgrade	14.00	135.00	Hold ➝ Buy	Low
10/27/2022	NWARF Norwegian Air Shuttle ASA	Upgrade	$2.00		Sell ➝ Hold	Low
10/24/2022	TLSNY Telia Company AB (publ)	Downgrade	$5.00		Buy ➝ Hold	N/A
10/20/2022	KNKBF Kinnevik	Upgrade	$11.00		Sell ➝ Hold	N/A
10/20/2022	GNGBY Getinge AB (publ)	Upgrade	$19.00		Hold ➝ Buy	N/A
10/19/2022	ROYUF Royal Unibrew A/S	Downgrade	$65.00		Buy ➝ Hold	N/A
10/18/2022	BOZTY Boozt AB (publ)	Upgrade	$12.00		Sell ➝ Hold	N/A
10/18/2022	ATAZF Atea ASA	Downgrade	$12.00		Buy ➝ Hold	N/A
10/13/2022	ORINY Orion Oyj	Downgrade	$18.00		Buy ➝ Hold	Low
10/11/2022	AMKBY A.P. Møller - Mærsk A/S	Downgrade	$7.00		Buy ➝ Hold	N/A
9/30/2022	SKFRY AB SKF (publ)	Downgrade	$20.00		Buy ➝ Hold	Low
9/26/2022	NHYDY Norsk Hydro ASA	Downgrade	$6.00		Hold ➝ Sell	Low
9/20/2022	PANDY Pandora A/S	Downgrade	$38.00		Hold ➝ Sell	Low
9/1/2022	NWARF Norwegian Air Shuttle ASA	Initiated Coverage	$2.00		Sell	Low
9/1/2022	NRYYF Norway Royal Salmon AS	Downgrade	$25.00		Buy ➝ Hold	Low
8/25/2022	RKWBF Rockwool A/S	Downgrade	$320.00		Hold ➝ Sell	Low
8/10/2022	JYSKY Jyske Bank A/S	Upgrade	$14.00		Hold ➝ Buy	N/A
8/10/2022	ASTVF Austevoll Seafood ASA	Downgrade	$8.00		Buy ➝ Hold	Low
8/10/2022	LYSFY Lerøy Seafood Group ASA	Downgrade	$9.00		Hold ➝ Sell	N/A
8/10/2022	GRGSF Grieg Seafood ASA	Downgrade	$6.00		Buy ➝ Hold	Low
7/7/2022	ORKLY Orkla ASA	Upgrade	$7.00		Hold ➝ Buy	N/A
7/5/2022	SPIZF Sparebanken Vest	Upgrade	$9.00	$99.00	Hold ➝ Buy	N/A
6/16/2022	FBGGF Fabege AB (publ)	Downgrade	$9.00		Buy ➝ Hold	Low
6/15/2022	GNGBY Getinge AB (publ)	Downgrade	$19.00		Buy ➝ Hold	High
5/16/2022	GEOVF Genovis AB (publ.)	Initiated Coverage	$7.00		Buy	N/A
5/16/2022	QNTFF Quantafuel AS	Downgrade	$0.00		Hold ➝ Sell	N/A
5/11/2022	BKFKF P/F Bakkafrost	Downgrade	$59.00		Buy ➝ Hold	Low
5/5/2022	KHOTF Kahoot! ASA	Downgrade	$4.00		Buy ➝ Hold	Medium
5/5/2022	PANDY Pandora A/S	Downgrade	$38.00		Buy ➝ Hold	High
4/27/2022	NVZMY Novozymes A/S	Upgrade	$54.00		Sell ➝ Hold	High
4/8/2022	ORKLY Orkla ASA	Downgrade	$7.00		Buy ➝ Hold	Low
3/23/2022	AXFOF Axfood AB (publ)	Upgrade	$27.00		Hold ➝ Buy	Low
3/15/2022	DNKEY Danske Bank A/S	Upgrade	$14.00		Hold	Low
3/15/2022	BOZTY Boozt AB (publ)	Downgrade	$12.00		Hold ➝ Sell	High