Pareto Securities repeats its Buy recommendation for real estate company Nivika and raises the price target to SEK 48 from the previous SEK 46 following the third-quarter report.
The research firm describes the report as stable, with positive net lettings and an unchanged occupancy rate. One-off costs weighed on the management result, which was below expectations and unchanged year-over-year.
Pareto highlights Nivika’s transition towards high-yielding commercial properties, which now account for 69 percent of property value, an increase of 5 percentage points year-over-year.
The analysts expect management result per share to increase by 17 and 16 percent in 2026 and 2027, respectively.
The valuation is considered attractive compared with sector peers, while the balance sheet provides room for further share buybacks.
