Analyst firm Kepler Cheuvreux has downgraded its recommendation for D/S Norden from "buy" to "hold," while raising the target price to 278 Danish kroner, up from the previous 274.
The analysis highlights mixed prospects following a weak Q3 report, though it notes a higher net asset value. Estimates have been adjusted down slightly, but the target price has been increased based on a reduced discount to net asset value.
The net asset value is now calculated at 347 Danish kroner per share, compared to the previous estimate of 423 in February.
