Western European Countries – Nordic Countries : First
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Western European Countries – Nordic Countries : First


Karl Berglund

& team

ABG Sundal Collier

"They excel at country coverage and at providing strong research."

ABG Sundal Collier vaults from third place to claim its first appearance atop the roster since 2010. Led since last year by Karl Berglund, the team of 33 (two fewer than last year) reports on 230 stocks across the region from offices in Copenhagen, Oslo and Stockholm. "The combination of cost-cutting, restructuring and a potentially strong recovery in key end markets," Berglund says, "provides significant upside over the next 12 months" for Swedish automaker Volvo, one of the analysts' top picks for the year. The shares ended last year at 89.40 Swedish kronor; the team has a target price of Skr110. Nokia Corp. is another favorite, as the Finnish mobile device manufacturer is "armed with the best technology platform witnessed since the end of the last century, and backed financially and operationally by one of the most formidable players in the mobile Internet services race," he says. The stock price hovered around €3 in late December, but the analysts believe it will climb to €5 — a "60 percent upside," Berglund notes. The 36-year-old, who worked at Alfred Berg ABN Amro and Deutsche Bank before joining ABG in 2006, is a graduate of the Stockholm School of Economics. — Paul Sweeney

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