SB1 Markets repeats its Buy rating on refrigeration wholesaler Beijer Ref and raises its target price to SEK 202 from SEK 200 following a strong Q3 report, according to an analysis.
Organic growth amounted to 8.3 percent, versus the expected 3.2 percent. Adjusted EBITA rose 19 percent to SEK 1,350 million, 7 percent above consensus, mainly driven by EMEA.
The bank raises its EBITA forecast by 1.9 percent, 1.8 percent and 1.5 percent, respectively, for 2026-2028 and sees new growth opportunities in Canada through the acquisition of Enertrak.
The stock trades at 16x expected EBITA for 2027, versus 17x for comparable companies. The analysts consider the discount unwarranted.
During the morning, several other analyst houses have also raised their target prices for Beijer Ref, with overall Buy ratings.
