Pareto hikes Kinnevik's PT on expected NAV growth

Kinnevik AB

09/12/2024 08:19

** Pareto raises its PT for Swedish investment group
Kinnevik  KINVn.ST  by 8% to SEK 130 and reiterates a "buy"
rating
    ** Kinnevik shares, which closed at SEK 77.76 on Friday, are
up 2.5% as of 0810 GMT
    ** Pareto expects the group's five core assets to double in
value over the next two years, highlighting strong performance
of the key asset Spring Health
    ** It adds that more than half of the non-core assets are
profitable, while the current discount of 43% implies that all
of them are worthless
    ** It points to improving valuations of growing program
assets in public markets, which should benefit much of
Kinnevik's portfolio
    ** Out of nine analysts covering Kinnevik, five rate the
stock "buy" or "strong buy", ​three "hold" and one "sell"

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))