Pareto Securities Stock Recommendations and Price Targets

This is a list of recent ratings by Pareto Securities.

Date	Company Name	Action	Current Price	Price Target	Rating
11/28/2025	CMBT CMB.TECH	Upgrade	$11.00		Strong-Buy
11/26/2025	SUSRF Surgical Science Sweden AB (publ)	Downgrade	$3.00		Hold
11/18/2025	CDLR Cadeler A/S	Upgrade	$18.00		Hold
11/11/2025	INSW International Seaways	Downgrade	$52.00		Strong-Buy ➝ Hold
11/10/2025	LPG Dorian LPG	Downgrade	$25.00		Strong-Buy ➝ Hold
10/29/2025	HXGCF Hexagon Composites ASA	Downgrade	$1.00		Hold
10/23/2025	EVGGF Evolution AB (publ)	Downgrade	$67.00		Hold
10/20/2025	AKRTF Aker Solutions ASA	Upgrade	$3.00		Hold ➝ Buy
10/14/2025	NDRBF NIBE Industrier AB (publ)	Upgrade	$4.00		Hold ➝ Buy
10/13/2025	GRGSF Grieg Seafood ASA	Upgrade	$6.00		Hold ➝ Buy
10/8/2025	NHYDY Norsk Hydro ASA	Downgrade	$7.00		Strong-Buy ➝ Hold
10/5/2025	SDVKY Sandvik	Downgrade	$31.00		Buy ➝ Hold
10/3/2025	YARIY Yara International ASA	Upgrade	$19.00		Hold
9/24/2025	HXGBY Hexagon	Downgrade	$12.00		Strong-Buy ➝ Hold
9/4/2025	WTI W&T Offshore	Initiated Coverage	$2.00		Buy
8/19/2025	TRMD Torm	Downgrade	$21.00		Buy ➝ Hold
8/7/2025	PRXXF Paradox Interactive AB (publ)	Upgrade	$18.00		Buy
7/25/2025	EQNR Equinor ASA	Downgrade	$23.00		Strong-Buy ➝ Hold
7/21/2025	SAABY Saab	Upgrade	$25.00		Hold
7/18/2025	TLTZY Tele2	Upgrade	$8.00		Strong-Buy
6/25/2025	NSKFF Kongsberg Gruppen ASA	Downgrade	$24.00		Sell
5/21/2025	ASAZY Assa Abloy	Downgrade	$19.00		Strong-Buy ➝ Hold
5/15/2025	NDRBF NIBE Industrier AB (publ)	Downgrade	$4.00		Hold
5/14/2025	TRMD Torm	Upgrade	$21.00		Hold ➝ Buy
4/29/2025	EPOKY Epiroc AB (publ)	Downgrade	$20.00		Strong-Buy ➝ Hold
4/23/2025	ASAZY Assa Abloy	Upgrade	$19.00		Buy
4/8/2025	BDNNY Boliden AB (publ)	Upgrade	$99.00		Hold ➝ Strong-Buy
3/31/2025	GNK Genco Shipping & Trading	Upgrade	$19.00		Strong-Buy
3/26/2025	WRTBY Wartsila	Downgrade	$7.00		Strong-Buy ➝ Hold
2/6/2025	EQNR Equinor ASA	Upgrade	$23.00		Hold ➝ Buy
2/4/2025	LPG Dorian LPG	Upgrade	$25.00		Buy
2/3/2025	ALV Autoliv	Downgrade	$118.00		Hold
1/30/2025	BWLP BW LPG	Upgrade	$13.00		Hold ➝ Buy
8/20/2024	SFL SFL	Upgrade	$8.00		Hold ➝ Buy
10/16/2023	LPG Dorian LPG	Upgrade	$25.00	$27.00 ➝ $35.00	Hold ➝ Buy
10/4/2023	MPZAF Mips AB (publ)	Upgrade	$45.00		Hold ➝ Buy
10/2/2023	NLLSF Nel ASA	Upgrade	$0.00		Sell ➝ Hold
10/2/2023	CLVSF CellaVision AB (publ)	Upgrade	$17.00		Hold ➝ Buy
8/24/2023	TTBKF 2020 Bulkers	Upgrade	$13.00		Hold ➝ Buy
8/18/2023	SFL SFL	Downgrade	$8.00	$11.00	Buy ➝ Hold
8/17/2023	SPIZF Sparebanken Vest	Downgrade	$17.00		Buy ➝ Hold
8/17/2023	SRMGF SpareBank 1 SMN	Downgrade	$12.00		Buy ➝ Hold
8/14/2023	SALRF SalMar ASA	Upgrade	$54.00		Hold ➝ Buy
7/28/2023	NDRBF NIBE Industrier AB (publ)	Upgrade	$4.00		Hold ➝ Buy
7/14/2023	MPZAF Mips AB (publ)	Upgrade	$45.00		Sell ➝ Hold
6/30/2023	GKSGF Grenke	Upgrade	$22.00		Hold ➝ Buy
6/28/2023	THUPY Thule Group AB (publ)	Upgrade	$13.00		Hold ➝ Buy
6/26/2023	AKCCF Aker Carbon Capture ASA	Upgrade	$0.00		Hold ➝ Buy
6/19/2023	NSKFF Kongsberg Gruppen ASA	Upgrade	$24.00		Hold ➝ Buy
5/30/2023	INDHF INDUS	Initiated Coverage	$30.00		Buy
5/26/2023	AVACF Avance Gas	Upgrade	$0.00		Hold ➝ Buy
5/22/2023	BWLLY BW LPG	Upgrade	$16.00		Hold ➝ Buy
5/12/2023	TGSGY Tgs Asa	Upgrade	$9.00		Hold ➝ Buy
5/10/2023	ORKLY Orkla Asa	Upgrade	$11.00		Hold ➝ Buy
5/10/2023	OCS Oculis	Initiated Coverage	$19.00	$23.00	Buy
5/8/2023	BSKZF Bambuser AB (publ)	Upgrade	$0.00		Hold ➝ Buy
5/5/2023	KHOTF Kahoot! ASA	Downgrade	$4.00		Buy ➝ Hold
5/5/2023	GKSGF Grenke	Downgrade	$22.00		Buy ➝ Hold
5/2/2023	PXPHF Pexip Holding ASA	Upgrade	$7.00		Hold ➝ Buy
5/2/2023	KMBIF Kambi Group	Upgrade	$14.00		Sell ➝ Hold
5/2/2023	EPOKY Epiroc AB (publ)	Upgrade	$20.00		Sell ➝ Hold
4/26/2023	WRTBY Wartsila	Upgrade	$7.00		Hold ➝ Buy
4/21/2023	ARRJF Arjo AB (publ)	Upgrade	$3.00		Sell ➝ Hold
4/21/2023	TELNY Telenor ASA	Downgrade	$14.00		Buy ➝ Hold
4/18/2023	CLVSF CellaVision AB (publ)	Downgrade	$17.00		Buy ➝ Hold
4/18/2023	ARHVF Archer	Upgrade	$2.00		Hold ➝ Buy
3/29/2023	KMBIF Kambi Group	Downgrade	$14.00		Hold ➝ Sell
3/6/2023	FBGGF Fabege AB (publ)	Upgrade	$9.00		Hold ➝ Buy
2/28/2023	LUNMF Lundin Mining	Upgrade	$19.00		Hold ➝ Buy
2/23/2023	SALRF SalMar ASA	Downgrade	$54.00		Buy ➝ Hold
2/20/2023	OUKPY Metso Oyj	Upgrade	$8.00		Hold ➝ Buy
2/17/2023	STLFF Stillfront Group AB (publ)	Upgrade	$1.00		Hold ➝ Buy
2/16/2023	NDRBF NIBE Industrier AB (publ)	Upgrade	$4.00		Sell ➝ Hold
2/15/2023	NWARF Norwegian Air Shuttle ASA	Upgrade	$2.00		Hold ➝ Buy
2/13/2023	TGSGY Tgs Asa	Downgrade	$9.00		Buy ➝ Hold
2/9/2023	EQNR Equinor ASA	Upgrade	$23.00		Hold ➝ Buy
2/6/2023	ELUXY Electrolux	Downgrade	$13.00		Buy ➝ Hold
2/2/2023	GNGBY Getinge	Downgrade	$22.00		Buy ➝ Hold
1/26/2023	ARRJF Arjo AB (publ)	Downgrade	$3.00		Hold ➝ Sell
1/26/2023	NDRBF NIBE Industrier AB (publ)	Downgrade	$4.00		Hold ➝ Sell
1/25/2023	FBGGF Fabege AB (publ)	Downgrade	$9.00		Buy ➝ Hold
1/25/2023	MPZAF Mips AB (publ)	Downgrade	$45.00		Hold ➝ Sell
1/18/2023	VWSYF Vestas Wind Systems A/S	Downgrade	$25.00		Buy ➝ Hold
1/9/2023	NSKFF Kongsberg Gruppen ASA	Downgrade	$24.00		Buy ➝ Hold
1/4/2023	ADEVF Adevinta ASA	Upgrade	$11.00		Hold ➝ Buy
12/21/2022	BDNNY Boliden AB (publ)	Downgrade	$99.00		Buy ➝ Hold
12/15/2022	ARRJF Arjo AB (publ)	Downgrade	$3.00		Buy ➝ Hold
12/13/2022	TBABF Trelleborg AB (publ)	Downgrade	$38.00		Buy ➝ Hold