Nordea repeats its Hold recommendation for the rock excavation and foundation engineering company Nordisk Bergteknik, with an unchanged target price of SEK 10, according to a recent analysis.
Adjusted operating profit in the third quarter exceeded the bank’s forecast by 5 percent, despite revenue being 6 percent lower than expected. Nordea leaves its operating profit forecasts for 2026–2028 largely unchanged but lowers its earnings per share forecasts as a result of financing costs.
The recovery is expected to be gradual. The target price corresponds to an EV/EBIT multiple of approximately 10 for 2027.
