- (PLX AI) - Nordnet is favored over Avanza, but both are set to benefit from higher rates, analysts at Carnegie said.
- • Nordnet is rated buy, with price target SEK 188 (unchanged)
- • Avanza is rated hold, with price target cut to SEK 285 from SEK 310 at Carnegie
- • Due to customer deposits both Avanza and Nordnet hold large liquidity portfolios, which will start to generate a return as rates rise, with an immediate impact on earnings, the analysts said
- • Meanwhile, underlying activity is holding up well, and customer activity in Q2 will be a good indicator of the new baseline after the pandemic: Carnegie