SHB: Boliden's acquisition value-enhancing for Lundin Mining - opposite for Boliden (R)
Mining company Boliden's acquisition of Lundin Mining's European assets is considered value-enhancing for Lundin Mining, but not for Boliden, Handelsbanken writes in an analysis.
"Given that both Boliden and Lundin Mining are trading at about a 25 percent discount to our estimated net asset value, we believe the price tag is accretive to Lundin Mining's stock and the opposite for Boliden," writes SHB.
Handelsbanken reiterates its short-term 'hold' and long-term 'outperform' recommendations for Boliden.
The share falls 1.1 percent.
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