'Trading discount too narrow for comfort', Citi cuts Investor AB

Investor AB

27/07/2021 09:49

** Citi downgrades Sweden-based industrial holding company
Investor AB  INVEb.ST  to "neutral" from "sell" as it sees
downside driven by a narrower trading discount
    ** The brokerage sees investment in EQT  EQTAB.ST , in which
Investor has a 17.5% stake, as a downside 
    ** "Following strong share price performance post the 1H21
results beat, we now see downside in our target price for EQT as
compared to elevated trading levels, which feeds through to our
valuation of Investor," Citi adds
    ** The brokerage says it sees trading discount remaining
narrow vs. historical average of ~20%, 
    ** Out of 8 analysts that cover Investor AB, two rate the
stock "strong buy" or "buy,"​ four rate it "hold" and two​ rate
the stock "strong sell" or "sell"
    


 (Reporting by Tommy Lund)
 ((Tommyalexander.lund@thomsonreuters.com))