Swedish real estate and investment company Lundbergs is receiving raised target prices from analysts following its third-quarter report.
Handelsbanken has increased its target price to SEK 600 (from SEK 575), while maintaining its buy recommendation.
The bank assesses that the stock is attractive given its historically high net asset value discount of 13 percent, compared to the average 10 percent.
“This, combined with the fact that we have a buy recommendation on 73 percent of Lundbergs' listed holdings, means we reiterate our positive view on the stock,” the bank writes.
The new target price offers a potential upside of 20 percent over a 12-month period.
Pareto Securities has also raised its target price slightly to SEK 528 from SEK 524, and opts to reiterate its hold recommendation.
Pareto notes that it sees limited upside potential in the listed portfolio. Additionally, it values the unlisted real estate portfolio at a discount compared to listed peers, “which further supports our recommendation to hold,” the analysis firm writes.
DNB Carnegie and ABG Sundal have also raised their target prices to SEK 540 (from SEK 535) and SEK 493 (from SEK 490), respectively, with both reiterating their hold recommendations.
