Nordea repeats its Buy rating on refrigeration wholesaler Beijer Ref and raises its target price to SEK 184 from 182. The bank raises its forecasts for adjusted EBITA in 2026–2028 by 2 percent following stronger-than-expected organic growth in the third quarter.
Nordea expects organic growth of 7 percent in 2027, one percentage point above consensus, and EBITA growth of 16 percent. Growth is expected to be driven by expansion in the US and increased market penetration in Europe. The stock is valued at 17 times expected EBITA for 2027.
