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.

Jacob Grimbrandt

Head of Research & Analysis

Research@linclund.com

Applications open January 20th 2025

For this spring semester of Fundamental Analysis, applications open on the 20th of January and close on February 1st 2025. For Trading and Quantitative Research the next application period is in August/September.

Applications are closed

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

Raysearch Laboratories

In this equity research report, analysts Vilmer Larsson and Meja Wessman take a closer look at RaySearch Laboratories, a leading software provider in cancer treatment. Holding a 50% market share in proton therapy software and advancing adaptive therapy tools, RaySearch is positioned to benefit from a market growing at a 13% CAGR until 2033E. A target price of SEK 284, derived from an equally weighted DCF and peer valuation, indicates a 32% upside.

Fodelia

In this equity research report, analysts Adam Bursic and Måns Holmgren analyze Fodelia Oyj, a Finnish food manufacturer undergoing a strategic shift from a holding company to an active operational role. This restructuring is projected to drive a 24.4% EBIT CAGR through 2027E. Using an equally weighted DCF model, precedent transactions, and peer valuation, the target price is set at EUR 8.17 for 2026E, indicating a 30.4% upside.

Olvi Oyj

In this equity research report, analyst Filippa Lostedt examines Olvi Oyj, a leading beverage company in Finland, the Baltics, and Belarus. With a strong regional presence and focus on the growing non-alcoholic segment, Olvi’s revenue is projected to grow at a 4.5% CAGR through 2026E. An equally weighted DCF and peer valuation imply a target price of EUR 47.5, suggesting a 41.0% upside.

Netel

In this equity research report, analysts Tea Nedelkovska and Krystian Segura analyze Netel, a Swedish provider of telecom, power, and infrastructure services. Leveraging an asset-light model and growing demand for 5G and clean energy, Netel’s revenue is projected to grow at a 6.2% CAGR through 2031E. Despite recent profitability declines from integration costs, a 2.5 percentage point EBIT margin expansion is expected by 2026E. A target price of SEK 23.9, based on an equally weighted DCF and peer valuation, suggests an 82.4% upside.