SEB Equities Stock Recommendations and Price Targets

This is a list of recent ratings by SEB Equities.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
12/13/2022	SWYBY Sanoma	Downgrade	$1.00		Buy ➝ Hold	Low
12/13/2022	KOJAF Kojamo Oyj	Downgrade	€25.00	€15.50	Buy ➝ Hold	N/A
11/28/2022	ADEVF Adevinta ASA	Downgrade	$10.00		Buy ➝ Hold	Low
11/18/2022	AKCCF Aker Carbon Capture ASA	Upgrade	$1.00		Hold ➝ Buy	Low
11/8/2022	AKBLF ALK-Abelló A/S	Upgrade	11.00	140.00	Hold ➝ Buy	N/A
11/4/2022	KHOTF Kahoot! ASA	Downgrade	3.00	23.00	Buy ➝ Hold	Low
11/2/2022	PRXXF Paradox Interactive AB (publ)	Downgrade	$22.00		Buy ➝ Hold	Low
10/31/2022	TTALF Terveystalo Oyj	Downgrade	€13.00	€7.00	Buy ➝ Hold	N/A
10/28/2022	THUPY Thule Group AB (publ)	Downgrade	$13.00		Buy ➝ Hold	Low
10/26/2022	NENTF Viaplay Group AB (publ)	Downgrade	$1.00		Buy ➝ Hold	Low
9/21/2022	ALV Autoliv	Downgrade	$105.00		Buy ➝ Hold	Low
6/28/2022	STLFF Stillfront Group AB (publ)	Downgrade	$1.00		Hold ➝ Sell	Low
6/27/2022	AKCCF Aker Carbon Capture ASA	Downgrade	$1.00		Buy ➝ Hold	Low
6/10/2022	KOJAF Kojamo Oyj	Downgrade	€25.00	€19.00	Buy ➝ Hold	Low
6/8/2022	HXPLF HEXPOL AB (publ)	Upgrade	$10.00		Hold ➝ Buy	Low
6/8/2022	FLNG FLEX LNG	Downgrade	$29.00		Buy ➝ Hold	Medium
5/13/2022	FOJCY Fortum Oyj	Upgrade	$3.00		Hold ➝ Buy	High
5/12/2022	SBRKF SpareBank 1 SR-Bank ASA	Upgrade	$11.00		Hold ➝ Buy	Low
5/5/2022	TRATF Traton	Downgrade	$22.00		Buy ➝ Hold	High
4/27/2022	ECTXF Electrolux Professional AB (publ)	Downgrade	SEK 6	SEK 80	Buy ➝ Hold	N/A
4/22/2022	BITGF Biotage AB (publ)	Downgrade	SEK 12	SEK 236	Buy ➝ Hold	N/A
4/8/2022	SAABF Saab AB (publ)	Upgrade	$51.00		Hold ➝ Buy	Medium
4/7/2022	ADDLF AddLife AB (publ)	Downgrade	$8.00		Buy ➝ Hold	Low
4/1/2022	EQNR Equinor ASA	Upgrade	$32.00	$42.02	Hold ➝ Buy	Low
3/29/2022	VLMTY Valmet Oyj	Upgrade	$25.00		Hold ➝ Buy	N/A
3/22/2022	STLFF Stillfront Group AB (publ)	Initiated Coverage	$1.00		Sell	Low
2/7/2022	TLTZY Tele2 AB (publ)	Downgrade	SEK 4	SEK 120	Buy ➝ Sell	Medium
2/7/2022	BIOGY BioGaia AB (publ)	Upgrade	$10.00		Hold ➝ Buy	Low
2/4/2022	SWDBY Swedbank AB (publ)	Downgrade	SEK 19	SEK 190	Buy ➝ Hold	High
2/4/2022	BOLIF Boliden AB (publ)	Downgrade	SEK 28	SEK 390	Buy ➝ Hold	Low
1/11/2022	EQBBF EQT AB (publ)	Upgrade	$20.00		Hold ➝ Buy	Low
12/2/2021	RKWBF Rockwool A/S	Initiated Coverage	265.00	3,000.00	Buy	Low
11/19/2021	NENTF Viaplay Group AB (publ)	Downgrade	$1.00		Buy ➝ Hold	Low
10/21/2021	SVNLY Svenska Handelsbanken AB (publ)	Downgrade	$5.00		Hold ➝ Sell	Low
10/18/2021	NVO Novo Nordisk A/S	Upgrade	$100.00		Hold ➝ Buy	Low
10/15/2021	DDRLF Drilling Company of 1972 A/S	Upgrade	$36.00		Hold ➝ Buy	N/A
9/27/2021	SCTBF Securitas AB (publ)	Upgrade	$8.00		Hold ➝ Buy	Low
9/8/2021	DNBBY DNB Bank ASA	Upgrade	19.00	224.00	Hold ➝ Buy	High
9/2/2021	YARIY Yara International ASA	Upgrade	$17.00		Hold ➝ Buy	Low
7/7/2021	CALT Calliditas Therapeutics AB (publ)	Initiated Coverage	$18.00		Buy	High
6/14/2021	IVSBF Investor AB (publ)	Downgrade	$21.00		Buy ➝ Hold	High
6/2/2021	SBLK Star Bulk Carriers	Initiated Coverage	$22.00		Buy	Medium
6/1/2021	NWARF Norwegian Air Shuttle ASA	Upgrade	$1.00		Sell ➝ Buy	Low
5/21/2021	TPDKY Topdanmark A/S	Downgrade	$4.00		Buy ➝ Hold	N/A
5/5/2021	BIOVF Swedish Orphan Biovitrum AB (publ)	Downgrade	$21.00		Buy ➝ Hold	Low
4/30/2021	NOK Nokia Oyj	Upgrade	$3.00		Hold ➝ Buy	Low
4/30/2021	SUBCY Subsea 7	Upgrade	$14.00		Hold ➝ Buy	Low
4/27/2021	ORKLY Orkla ASA	Upgrade	$8.00		Hold ➝ Buy	Low
4/26/2021	DNNGY Ørsted A/S	Upgrade	$16.00		Hold ➝ Buy	Low
4/26/2021	REVXF Revenio Group Oyj	Upgrade	$35.00		Hold ➝ Buy	N/A
4/23/2021	THUPY Thule Group AB (publ)	Downgrade	$13.00		Buy ➝ Hold	Medium
4/21/2021	SDVKY Sandvik AB (publ)	Downgrade	$20.00		Buy ➝ Hold	Low
4/19/2021	FNNNF Finnair Oyj	Downgrade	$0.00		Buy ➝ Hold	Low
4/19/2021	TRATF Traton	Upgrade	$22.00		Hold ➝ Buy	N/A
3/15/2021	ERIC Telefonaktiebolaget LM Ericsson (publ)	Upgrade	$5.00		Hold ➝ Buy	Low
3/11/2021	GNGBY Getinge AB (publ)	Upgrade	$22.00		Hold ➝ Buy	Low
3/10/2021	LNDNF Orrön Energy AB (publ)	Downgrade	$1.00		Buy ➝ Hold	Low
2/26/2021	SUBCY Subsea 7	Downgrade	$14.00		Buy ➝ Hold	Low
2/25/2021	ARRJF Arjo AB (publ)	Upgrade	$4.00		Hold ➝ Buy	N/A
2/12/2021	TIGO Millicom International Cellular	Initiated Coverage	$17.00		Buy	Low
2/10/2021	WILLF Demant A/S	Upgrade	$43.00		Hold ➝ Buy	Low
2/8/2021	NTOIY Neste Oyj	Upgrade	$19.00		Hold ➝ Buy	Low
2/8/2021	VWDRY Vestas Wind Systems A/S	Downgrade	$9.00		Buy ➝ Hold	Low
1/27/2021	ARRJF Arjo AB (publ)	Downgrade	$4.00		Buy ➝ Hold	N/A
1/26/2021	BLRDF Billerud AB (publ)	Downgrade	$9.00		Buy ➝ Hold	Medium
1/13/2021	DNNGY Ørsted A/S	Downgrade	$16.00		Buy ➝ Hold	Low
12/16/2020	OUTKY Outokumpu Oyj	Upgrade	$2.00		Hold ➝ Buy	High
12/10/2020	HSQVY Husqvarna AB (publ)	Upgrade	$16.00		Hold ➝ Buy	Low