Aktiespararna recommends buying shares in refrigeration wholesaler Beijer Ref, setting a target price of 180 kronor.
This is revealed in the latest issue of the magazine Aktiespararen, published today.
"The weak share price performance in 2025 offers a good entry point ahead of a stronger 2026," Aktiespararna writes.
The analysis firm notes that while Beijer Ref's stock has been under pressure, the company itself continues to perform well, with improved growth and healthy margins.
"Based on our forecasts for 2027, the price-to-earnings ratio stands at 20, which is historically low and too conservative for a growing quality company like Beijer Ref," the firm writes, adding:
"Higher interest rates are weighing on Beijer Ref's valuation, but with an EBITDA multiple of 20 for 2027 and a 23 multiple for the same year as guidance, we land on a target price of 180 kronor, after applying a 10 percent 'caution discount.' This implies an upside of just over 25 percent, and we give the stock the green light."
Beijer Ref publ AB, formerly G & L Beijer AB, is a Sweden-based technology company active in the fields of refrigeration and air conditioning. The Company operates one business area, Beijer Ref, which carries out operations in over 20 countries in Europe, South Africa, Australia, New Zealand, India, Namibia, Botswana, Mozambique and Thailand. Its product portfolio also includes comfort cooling products and related operations, such as heat pumps, aside from the standard offering. The Company offers commercial refrigeration products, which are installed in supermarkets, restaurants and food retail outlets; comfort cooling products, which include a range of heating and cooling air conditioning products for commercial and domestic use, as well as products for the industrial refrigeration sector for large refrigerated distribution centers, such as ice rinks. The Company operates Real Cold and DX Por as subsidiaries.
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