Equity Research
In this fundamental analysis, analysts Axel Carlius and Erik Lennvald take a closer look at NOTE AB. NOTE is a Nordic electronics manufacturing services (EMS) provider transitioning from a cyclical, industrially-focused contract manufacturer into a key Nordic defense subcontractor with structurally higher margins.
In this pitch deck, analysts Michael Sedigh and Ville Nordmark present an investment case for Copart, the global leader in online salvage vehicle auctions. Recent share price weakness appears driven by concerns around softer U.S. insurance volumes and the view that the salvage market is becoming more mature. The thesis supports 30.5% upside to the target share price.
In this fundamental analysis report, analysts Esther Wärnsby and Gal Teyar take a closer look at SinterCast, a Swedish industrial technology company and the world’s leading supplier of high-volume Compacted Graphite Iron (CGI) process control systems. An equally weighted DCF and peer valuation yields a SEK 132 target price, corresponding to 26.5% upside.
In this fundamental analysis report, analysts William Sjögren and Jakob Lewrén take a closer look at I-tech. The market has punished the company over exaggerated regulatory risks whilst underlying fundamentals and outlook remain strong.
An equally weighted DCF and relative valuation, where a 2027E EV/EBIT of 12x is applied, corresponds to an upside of 37.7%.
In this fundamental analysis report, analysts Linus Melin and Vilhelm Ruhr provide an in-depth analysis of Safeture, a Swedish SaaS microcap operating within people risk management. After a period of stagnant growth driven by prolonged sales lead times and a weak European market, Safeture is positioned for a comeback.
In this fundamental analysis, analysts Dennis Drevell Smith and Anna-Brita Hunter Nilsson examine Paxman AB, a UK based MedTech company operating a de facto monopoly in mechanical scalp cooling. An equally weighted DCF and relative valuation imply a potential upside of 58%, making Paxman a compelling buy opportunity.
In this fundamental analysis report, analysts Måns Rössberger and Emma Rosberg take a closer look at Careium AB, a Swedish provider of telecare solutions for seniors. Despite market concerns related to management changes and prior deficiencies in financial communication, Careium is positioned to benefit from a structurally growing market driven by aging demographics, with revenue projected to grow at a 4.0% CAGR through 2027.
In this fundamental analysis report, analysts James Göthman and Fredrik Ramel analyse Envipco Holding, a Norwegian producer of reverse vending machines (RVMs) for recycling bottles, managing the full value chain including service and maintenance.
In this fundamental analysis report, analysts Stephanie Jirhage and Kaspar Appelholm take a closer look at Brødrene A&O Johansen, a Danish family-owned wholesaler supplying technical products and components to professional tradesmen across Scandinavia. The market underestimates AOJ’s operating leverage, synergy-driven growth from recent acquisitions and underlying real estate value.
In this fundamental analysis report, analysts Nils Arvidsson and Felix Burestedt take a closer look at Formpipe Software AB, a Swedish software company specializing in document output management as an add-on to ERP systems. Following the divestment of the Company’s public sector operations, Formpipe is transitioning into a pure-play SaaS business with increased scalability and recurring revenues.
