- (PLX AI) - Fortum shares continued to fall, losing another 2% as analysts at Nordea said the company's Russia operations faced a material risk.
- • Nordea maintained a hold rating for Fortum, cutting the fair value to EUR 22 from EUR 24
- • Meanwhile SEB cut the stock to hold from buy, slashing the price target to EUR 17 from EUR 26
- • Geopolitics play a major role in fundamental value assessment, with the long-term gas contract agreement risk the major unknown, SEB said
- • Danske cut their price target further, to EUR 17.50 from EUR 20, after having cut Fortum to hold from buy on March 1
- • Fortum's large direct exposure to Russia as well as indirect risks mainly in Uniper's gas mid-stream operations arising from potential disruptions in gas flows from Russia to Europe are keeping a lid on share valuation, Danske said
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