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
9/10/2026	BWLP BW LPG	Upgrade	$26.00		Hold ➝ Buy
8/24/2026	GLNG Golar LNG	Upgrade	$50.00		Hold ➝ Buy
8/4/2026	HXGCF Hexagon Composites ASA	Upgrade	$1.00		Hold ➝ Buy
7/22/2026	ALFVY Alfa Laval	Upgrade	$55.00		Hold ➝ Buy
7/17/2026	TELNY Telenor ASA	Upgrade	$14.00		Hold ➝ Strong-Buy
7/16/2026	ABBNY ABB	Upgrade	$95.00		Hold ➝ Buy
7/6/2026	ABBNY ABB	Downgrade	$95.00		Strong-Buy ➝ Hold
7/3/2026	MPZZF MPC Container Ships ASA	Upgrade	$3.00		Hold ➝ Buy
6/30/2026	ASTVF Austevoll Seafood ASA	Downgrade	$10.00		Sell
6/30/2026	MHGVY Marine Harvest ASA	Downgrade	$21.00		Strong-Buy ➝ Hold
6/29/2026	BIOVF Swedish Orphan Biovitrum	Downgrade	$48.00		Hold
6/26/2026	HNNMY Hennes & Mauritz	Downgrade	$3.00		Sell
6/25/2026	SAABY Saab	Upgrade	$30.00		Hold ➝ Strong-Buy
6/16/2026	BWLP BW LPG	Downgrade	$26.00		Strong-Buy ➝ Hold
6/11/2026	NHYDY Norsk Hydro ASA	Downgrade	$9.00		Buy ➝ Hold
6/11/2026	VLVLY AB Volvo	Upgrade	$34.00		Strong-Buy
5/28/2026	MPZZF MPC Container Ships ASA	Upgrade	$3.00		Hold
5/27/2026	HAFN Hafnia	Downgrade	$10.00		Hold
5/25/2026	FRO Frontline	Downgrade	$54.00	$39.46	Buy ➝ Hold
5/25/2026	ECO Okeanis Eco Tankers	Downgrade	$85.00	$57.50	Buy ➝ Hold
5/21/2026	LPG Dorian LPG	Reiterated Rating	$58.00		Buy ➝ Buy
5/21/2026	GLNG Golar LNG	Downgrade	$50.00		Strong-Buy ➝ Hold
5/18/2026	INSW International Seaways	Downgrade	$109.00		Buy ➝ Hold
5/17/2026	MHGVY Marine Harvest ASA	Upgrade	$21.00		Hold ➝ Strong-Buy
5/13/2026	TRMD Torm	Downgrade	$37.00		Hold ➝ Hold
5/13/2026	FLNG Flex LNG	Downgrade	$32.00		Buy ➝ Sell
5/4/2026	PRXXF Paradox Interactive AB (publ)	Upgrade	$15.00		Hold ➝ Buy
5/3/2026	NHYDY Norsk Hydro ASA	Upgrade	$9.00		Hold ➝ Buy
4/30/2026	AKRTF Aker Solutions ASA	Downgrade	$4.00		Buy ➝ Hold
4/16/2026	NWARF Norwegian Air Shuttle ASA	Upgrade	$1.00		Buy
4/10/2026	TELNY Telenor ASA	Downgrade	$14.00		Strong-Buy ➝ Hold
4/8/2026	ALFVY Alfa Laval	Downgrade	$55.00		Buy ➝ Hold
4/8/2026	ASAZY Assa Abloy	Upgrade	$17.00		Hold ➝ Buy
4/7/2026	YARIY Yara International ASA	Upgrade	$24.00		Hold ➝ Strong-Buy
3/27/2026	EQNR Equinor ASA	Downgrade	$44.00		Strong-Buy ➝ Hold
2/23/2026	VAL Valaris	Downgrade	$83.00	$80.00	Hold ➝ Sell
2/10/2026	RIG Transocean	Downgrade	$6.00	$5.25	Hold ➝ Sell
2/5/2026	DNBBY DNB Bank ASA	Downgrade	$33.00		Buy ➝ Hold
2/5/2026	EQNR Equinor ASA	Upgrade	$44.00		Hold ➝ Strong-Buy
1/27/2026	ATLKY Atlas Copco	Downgrade	$20.00		Buy ➝ Hold
1/21/2026	PRXXF Paradox Interactive AB (publ)	Downgrade	$15.00		Buy ➝ Hold
1/20/2026	INSW International Seaways	Upgrade	$109.00	$64.00	Hold ➝ Buy
1/19/2026	WRTBY Wartsila	Downgrade	$6.00		Hold ➝ Sell
1/19/2026	TELNY Telenor ASA	Upgrade	$14.00		Hold ➝ Strong-Buy
1/16/2026	MHGVY Marine Harvest ASA	Upgrade	$21.00		Hold
1/13/2026	HMNKF HMS Networks AB (publ)	Upgrade	$49.00		Buy
12/9/2025	NVGS Navigator	Initiated Coverage	$25.00		Buy
11/28/2025	CMBT CMB.TECH	Upgrade	$20.00		Strong-Buy
11/26/2025	SUSRF Surgical Science Sweden AB (publ)	Downgrade	$5.00		Hold
11/18/2025	CDLR Cadeler A/S	Upgrade	$25.00		Hold
11/11/2025	INSW International Seaways	Downgrade	$109.00		Strong-Buy ➝ Hold
11/10/2025	LPG Dorian LPG	Downgrade	$58.00		Strong-Buy ➝ Hold
10/29/2025	HXGCF Hexagon Composites ASA	Downgrade	$1.00		Hold
10/23/2025	EVGGF Evolution AB (publ)	Downgrade	$91.00		Hold
10/20/2025	AKRTF Aker Solutions ASA	Upgrade	$4.00		Hold ➝ Buy
10/14/2025	NDRBF NIBE Industrier AB (publ)	Upgrade	$5.00		Hold ➝ Buy
10/13/2025	GRGSF Grieg Seafood ASA	Upgrade	$4.00		Hold ➝ Buy
10/8/2025	NHYDY Norsk Hydro ASA	Downgrade	$9.00		Strong-Buy ➝ Hold
10/5/2025	SDVKY Sandvik	Downgrade	$38.00		Buy ➝ Hold
10/3/2025	YARIY Yara International ASA	Upgrade	$24.00		Hold
9/24/2025	HXGBY Hexagon	Downgrade	$9.00		Strong-Buy ➝ Hold
9/4/2025	WTI W&T Offshore	Initiated Coverage	$4.00		Buy
8/19/2025	TRMD Torm	Downgrade	$37.00		Buy ➝ Hold
8/7/2025	PRXXF Paradox Interactive AB (publ)	Upgrade	$15.00		Buy
7/25/2025	EQNR Equinor ASA	Downgrade	$44.00		Strong-Buy ➝ Hold
7/21/2025	SAABY Saab	Upgrade	$30.00		Hold
7/18/2025	TLTZY Tele2	Upgrade	$9.00		Strong-Buy
6/25/2025	NSKFF Kongsberg Gruppen ASA	Downgrade	$33.00		Sell
5/21/2025	ASAZY Assa Abloy	Downgrade	$17.00		Strong-Buy ➝ Hold
5/15/2025	NDRBF NIBE Industrier AB (publ)	Downgrade	$5.00		Hold
5/14/2025	TRMD Torm	Upgrade	$37.00		Hold ➝ Buy
4/29/2025	EPOKY Epiroc AB (publ)	Downgrade	$20.00		Strong-Buy ➝ Hold
4/23/2025	ASAZY Assa Abloy	Upgrade	$17.00		Buy
4/8/2025	BDNNY Boliden AB (publ)	Upgrade	$105.00		Hold ➝ Strong-Buy
3/31/2025	GNK Genco Shipping & Trading	Upgrade	$27.00		Strong-Buy
3/26/2025	WRTBY Wartsila	Downgrade	$6.00		Strong-Buy ➝ Hold
2/6/2025	EQNR Equinor ASA	Upgrade	$44.00		Hold ➝ Buy
2/4/2025	LPG Dorian LPG	Upgrade	$58.00		Buy
2/3/2025	ALV Autoliv	Downgrade	$116.00		Hold
1/30/2025	BWLP BW LPG	Upgrade	$26.00		Hold ➝ Buy
8/20/2024	SFL SFL	Upgrade	$13.00		Hold ➝ Buy
10/16/2023	LPG Dorian LPG	Upgrade	$58.00	$27.00 ➝ $35.00	Hold ➝ Buy
10/4/2023	MPZAF Mips AB (publ)	Upgrade	$44.00		Hold ➝ Buy
10/2/2023	NLLSF Nel ASA	Upgrade	$0.00		Sell ➝ Hold
10/2/2023	CLVSF CellaVision AB (publ)	Upgrade	$14.00		Hold ➝ Buy