Exane upgrades Storskogen on better dept structure, falling rates
16/05/2024 11:11
** BNP Paribas Exane upgrades Swedish investment holding
group Storskogen STORb.ST to "outperform" from "neutral" on
improved debt position and falling interest rates
** It says recently renegotiated average debt maturity,
which was extended from 18 to 33 months, has improved
Storskogen's debt structure
** Sweden's central bank has reduced its policy rate for the
first time in eight years, which should lead to lower interest
costs, the broker says
** Demand for the group's products and services is also
likely to recover, based on increased Q1 order backlog, it adds
** Exane notes the group's Q1 profit margin, reported
earlier in May, beat consensus in all business areas
** Storskogen's shares are up 10.9% at SEK 8.7 per share
** Three out of five analysts rate Storskogen "buy" or
"strong buy", with two at "hold"
(Reporting by Anna Chaberska)
((Anna.chaberska@thomsonreuters.com))