STB has outperformed the OSEBX by ~20% over the last three months, but is still down 1% over the last year. With strong equity markets and high organic growth we expect a strong finish to 2020 and tailwind into 2021 in Savings and Insurance. Rising rates provides relief for the backbook and should lift the Solvency ratio, and we expect a NOK 3.25 DPS to be proposed. STB remains highly attractive and we reiterate Buy and lift our TP to NOK 78 (72)
15 Jan 2021
Outperformance looks set to continue
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Outperformance looks set to continue
Storebrand ASA (STB:OSL) | 0 0 0.0%
- Published:
15 Jan 2021 -
Author:
Joakim Svingen | Roy Tilley -
Pages:
12
STB has outperformed the OSEBX by ~20% over the last three months, but is still down 1% over the last year. With strong equity markets and high organic growth we expect a strong finish to 2020 and tailwind into 2021 in Savings and Insurance. Rising rates provides relief for the backbook and should lift the Solvency ratio, and we expect a NOK 3.25 DPS to be proposed. STB remains highly attractive and we reiterate Buy and lift our TP to NOK 78 (72)