LINC

Research & Analysis

LINC R&A: Fundamental Analysis, Equity Research, M&A & Trading and Quantitative Research

With more than 40 student analysts, LINC R&A’s purpose is to provide the most ambitious students at Lund University with the adequate tools, a network, and the right skillset to break into the field of finance. During any given day of the semester, you will find several of our analysts in LINC’s Bloomberg Finance Lab, which is one of the largest within the Nordics.

Semester 1: In your first semester in the Research & Analysis program, you will join the Fundamental Analysis team. Here, you will learn the basics of analyzing stocks and understanding valuation methods in finance. The semester includes interactive lectures, challenging homework, and ends with creating and presenting a stock pitch. For those who enjoy math and finance, the Trading and Quantitative Research track might be the right fit, offering a deeper dive into numerical analysis within the financial field.

Semester 2: Building on your knowledge from the FA program, you will choose between continuing with Equity Research or exploring Mergers and Acquisitions (M&A). Each path offers different learning opportunities, allowing you to shape your education according to your career goals.

Fundamental Analysis

If you’re eager to grasp the fundamentals of business analysis, understand stocks, and valuation methods, Fundamental Analysis is the perfect starting point.

Equity Research or M&A

The Equity Research team is aimed towards students that possess an interest in stocks and investing. In M&A, you will delve into what makes a company an attractive acquisition target.

Trading and Quantitative Research

What is high-frequency trading? What is risk management? Learn more about a quantitative career in finance.

Why should you join?

R&A is a unique offering within LINC that aims toward educating the most ambitious students at Lund University within the field of finance. R&A acts as a complement to the academic approach taught by the university. Thus, R&A teaches the analysts how to apply theoretical concepts in a practical environment, and enables them to learn key skills applicable in finance that are not taught by their study discipline. In-part due to the knowledge gained through R&A, previous analysts have received offers from prestigious firms like Fidelity Investments, Goldman Sachs, JPMorgan, Deutsche Bank, ABG Sundal Collier, BNP Paribas, Nomura, SEB, Nordea and more.

Samuel Ullmann

Head of Research & Analysis

Research@linclund.com

Applications open fall 2025

Applications for the next following semester of Fundamental Analysis open during the beginning of fall 2025. For Trading and Quantitative Research the next application period is in August/September.

To get in contact with us, feel free to come down to LINC’s Bloomberg Finance Lab, as there will almost all of the time be members of R&A in the lab that are willing to answer any questions you might have. You find the lab in the lower level of the main building of the School of Economics and Management at Lund University (Tycho Brahes väg 1, 223 63 Lund) – alternatively, feel free to send an e-mail to research@linclund.com for any questions. For questions regarding Trading & Quantitative Research, contact tqr@linclund.com .

Software applied in our research

Recently Published R&A Reports

Lundin Mining

In this write-up, senior analyst Edvin Egnell recommend a long buy on Lundin Mining (LUMI), a mid-tier copper-focused producer undergoing a strategic transformation into a pure-play growth platform aligned with long-term electrification trends.

TransMedics

In this pitch deck, Axel Andersson and Marius Fischer present a buy recommendation on TransMedics, a disruptive medtech company redefining organ transplantation. The pitch won the inaugural Swedish University Pitch Competition of 2025 judged by Danske Bank.

Deutsche Rohstoff

In this write-up, senior analysts Linus Öberg looks at Deutsche Rohstoff AG (DRO), a €154m German-listed upstream operator in the U.S Oil & Gas exploration and production (E&P) sector. Despite robust fundamentals, a track record of accretive capital allocation and an exceptional management team, the stock remains largely under the radar, trading at a significant discount to both its peers and the intrinsic value of its reserves.

Fagerhult Group

In this pitch deck, analysts Elias Hylander and Maria Sunrise provide an in-depth assessment of Fagerhult Group, a leader in professional lighting solutions with a strong focus on sustainability and innovation. Using a comprehensive valuation approach—incorporating DCF modeling, peer analysis, precedent transactions, and an LBO framework—they estimate Fagerhult’s enterprise value at SEK 11.2–15.3 billion. The following section outlines key assumptions behind this valuation and insights shaping the investment thesis.