- (PLX AI) - Nordea is top pick among Nordic banks, but all Swedish banks under coverage are a buy, analysts at Danske Bank said in a research note.
- • Rising rates are positive for banks, and although lower house prices could negatively affect the economy, there no meaningful risk to banks as mortgage growth should hold up well and asset quality should remain strong, Danske Bank said
- • Swedish household balance sheets are strong and the history of a low amortization culture has built liquid instead of fixed assets, a real strength as rates rise, Danske said
- • Danske rates Nordea, SEB, Handelsbanken and Swedbank a buy
- • DNB in Norway is also rated a buy
- • The biggest price target upside is with Nordea, at 43%, according to Danske, with the lowest with Handelsbanken at 17%
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