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Read all the reports from LINC R&A

June 2018

Welfare – The future for Swedish welfare companies

In this market report, analysts Olle Göransson and Patrik Nilsson evaluate the welfare market in Sweden. The market is highly fragmented and is expected to [...]

Hexatronic Group – Operates on a market with strong growth potential

In this equity report, analyst Carl-Ferdinand Carsjö evaluates Hexatronic. The company is a producer of fiber optic cables that provides the fastest way of transmitting [...]

May 2018

Wise Group – Expansion within the Digital HR Services segment is expected to generate improved EBIT

In this equity report, analysts Marcus Eriksen and Victor Forss assess Wise Group. The company is expanding its services within Digital HR Services due to [...]

Sportamore – Structural value drivers in e-commerce with a new logistics solution provide potential for margin expansion

In this equity report, analysts Carl Sandström and Erik Pehrsson assess Sportamore. The company is acting on a growing market, where sales of sporting goods [...]

FM Mattsson – Supply chain price pressure and potentially weak construction market growth indicates a depreciation by 3 %

In this equity report, analyst Jacob Andersson assesses FM Mattsson Mora Group. The company is a leading player in Northern Europe’s taps- and thermostatic market [...]

Straddling the S&P 500 – What’s next for US equities?

Since its low point in the midst of the financial crisis in 2009, the S&P 500 has advanced by around 16.35% annually for the past [...]

April 2018

The Swedish Real Estate Market – Recent Trends and Future Sector Outlook

In this market research report, analysts Oscar Johannesson and Enes Ljuca evaluate the Swedish Real Estate Market. The aim with this report was to first [...]

NGS Group – Growth and margin expansion within management segment outweighs lost growth within staffing

In this equity report, analysts Marcus Eriksen and Carl Sandström assess NGS Group. The company is expanding it´s services within the segment management supply due [...]

Balco Group – Strong market trends and growth creates possibilities

In this equity report, analyst Sebastian Hofstedt evaluate Balco Group. The company produces solutions for balcony renovations and the company is operating on a market [...]

Bredband2 – Technology at the forefront on a competitive market provides prerequisites for growth

In this equity report, analysts Erik Pehrsson and Victor Forss assess Bredband2. The company provides a scalable business model which is expected to contribute to [...]

Safe Harbor – Japanese Small-Cap offers long-term value and a trump card in trade war

Since February 2018, Donald Trump and Xi Jinping have been trading threats of imposing tariffs against each other’s economies. As a risk-conservative option in this [...]

MAG Interactive – New game launches and synergies expected to generate future growth and margin expansion

In this equity report, analysts Edvin Sjökvist and Petrus Lindh assess MAG Interactive. The company’s growth has been stagnant during the past two years but [...]

Bearish on U.S. Tech – Reasons why you should move out of tech stocks

Technology stocks have been performing extremely well in recent years. According to J.P. Morgan, the technology sector has gone up by 130% over the last [...]

Dollar’s rise against the euro – Market indicators reveals shifting trend in EUR/USD

Over the last year the EUR strengthened dramatically against the USD and the EUR/USD is currently at its highest level since the end of 2014. [...]

March 2018

Digitization – A market report on digitization with focus on Swedish equities aligned for future growth

In this market report, analysts Johan Cisneros and Emil Erbing evaluate the role and impact of Digitization. The report discusses the effect that a more [...]

Wall Street Bulls Versus Bonds – Trading opportunities with interest rates

In this LINC Article about how one can use the 10 year US Treasury bond and a rate hike to trade the Dow Jones Industrial [...]

IPO’s First Day – When do you sell your IPO?

In this LINC Article about the recent years’ IPO, market analysts Alida Persson and Davud Serezlic have used the latest 213 initial public offerings to [...]

Formpipe – Increased Cloud sales expected to result in margin expansion and increased recurring revenues

In this equity report, analyst Sebastian Würtz evaluate Formpipe. There is an increased interest in Cloud based products as a result of a structural change [...]

Nilörngruppen – Increased demand for branding on a market moving towards e-commerce

In this equity report, analysts Marcus Eriksen and Erik Pehrsson assess Nilörngruppen. The company is experiencing high growth despite acting on a slow growing market. [...]

MIPS – Scalable business model and stable market trends enables growth

In this equity report, analyst Sebastian Hofstedt and Gabriel Burmeister evaluate MIPS. The company produces a patented safety accessory for different types of helmets and [...]

Global Gaming 555 – Fast growing gambling company with 71 % mobile revenues

In this equity report, analysts Johan Brown and Carl-Ferdinand Carsjö evaluate Global Gaming. Global Gaming has seen a significant growth the last couple of years. [...]

Mr Green & Co AB – New Acquisition Strategy and Marketing Renaissance might be the winning hand

In this equity report, analyst Olle Göransson assess Mr Green & Co. The company is valued at a 30 % discount compared to the peer-average. [...]

Online Gambling – Recent trends and future industry outlook

In this market report, analysts Olle Göransson and Patrik Nilsson evaluate the Online Gambling industry. The market has gone from land-based casinos to online websites [...]

Opportunities in European Equities – Searching for the Highest Risk-adjusted Returns Across Equity Indices

In this investment research report, analysts James Skoggard and Björn Van dijkman evaluate investment opportunities in European equities. Equities that have performed best on a [...]

Nordic Leisure – Acquisition driven growth enables margin expansion

In this equity report, analysts Victor Forss and Carl Sandström assess Nordic Leisure. Due to low competition and strict regulations, the company is well positioned [...]

AwardIT – Scalable business model with increased revenue diversification

In this equity report, analysts Petrus Lindh and Fabian Lopez evaluate Awardit AB. The company has initiated a plan to grow through geographic expansion and [...]

Returns from the U.S. tax bill – Investment opportunities in U.S. pharmaceuticals

In this investment research report, analysts Jonathan Angestjärna and Panu Pikkanen evaluate investment opportunities in U.S. pharmaceuticals after the introduction of the new U.S. tax [...]

Nordic Waterproofing – Leading market position in Northern Europe at low valuation yields a potential appreciation of 42%

In this equity report, analysts Jacob Andersson and Wilhelm Rippe assess Nordic Waterproofing Holding. The company is a leading player in Northern Europe’s waterproofing market. [...]

February 2018

Odd Molly International – Increased competition and ever-changing market outlook

In this equity report, analysts Edvin Sjökvist and Fredrik Lindblad assess Odd Molly. The company is experiencing heavy competition in an ever-changing retail market. The [...]

Investment research report: Chinese Crude-Oil Futures

In this investment research report, analysts Jack Crooks and Kasper Uhd Jepsen evaluate Chinese crude-oil futures. With the announcement of the imminent debut on the [...]

Investment research report: The Nifty-50

The prime stock index in India ’Nifty-50’, which represents the leading companies in the economy, delivered nearly 30% return and outperformed many of the comparing [...]

Micro Systemation – Digitization and strong market position enables future growth

In this equity report, analysts Gabriel Burmeister and Lukas Björklund assess Micro Systemation. The company is expanding due to a growing demand for securing and [...]

24SevenOffice – Scalable business model in a growing market

In this equity report, analysts Johan Brown and Sebastian Würtz evaluate 24SevenOffice.  There is structural change in the ERP (Enterprise Resource Planning) market where companies [...]

Alcadon Group – Stable market growth and qualified leadership enables organic growth

In this equity report, analyst Sebastian Hofstedt evaluate Alcadon Group. The company is currently expanding through organic growth in the fiber optics market and has [...]

OPEC – Trading equities exposed to Crude Oil

In this LINC Article about how to exploit volatility in Swedish oil-related stocks due to announcements made by OPEC analyst Davud Serezlic and Tim Mårtensson [...]

Equity report: Aspire Global – Sports betting and new contracts enables further growth

In this equity report, analyst Patrik Nilsson evaluate Aspire Global. The company is currently expanding both geographically and through new business concepts. The analyst narrate [...]

Transtema Group – Well positioned to capitalize on structural market growth

In this equity report, analysts Johan Brown and Patrik Nilsson evaluate Transtema group. Due to 15 acquisitions during 2016-2017 the company has shown a significant [...]

BTS Group – Aggressive growth strategy in highly fragmented market with positive earnings outlook

In this equity report, analysts Oscar Johannesson and Panu Pikkanen evaluate BTS group. If you want to get in touch with the analysts, please send [...]

December 2017

LINC Articles: Publication I – Backtesting normal and tweaked MAC

In this LINC article about different MACD settings and their performances, analyst Oliver Titikic, analyst Davud Serezlic and analyst Felix Eriksson have analysed one MACD [...]

Equity report: Venue Retail Group – Restructured business profile increases agility in a competitive retail industry

  In this equity report, analysts Olof Ståhl and Emil Erbing evaluate Venue Retail Group. The report outlines how Venue Retail Groups restructured business model [...]

Equity report: NNH – Competitive advantage through distribution network enables economics of scale

In this equity report, analysts Johan Cisneros and Olof Ståhl evaluate New Nordic Healthbrands. The report discusses possibilities for further cost synergies and operational leverage [...]

Equity report: Zeta Display – Strong market position enabled through aggressive acquisitions

In this equity report, analysts Sebastian Hofstedt and Emil Erbing evaluate Zeta Display. The report discusses a new phase of synergies and profitability through Zeta [...]

Equity report: Axkid – Picking up speed through entries in high growth markets, fueled by potential regulations

In this equity report, analyst Fredrik Lindblad evaluates Axkid. The report outlines future prosperity through geographical entries in high growth markets, fueled by a higher [...]

Macro report: Eurozone Politics

Ten years ago the world’s economic and political order seemed to be set on an foreseeable course. Economic globalization was expected to rapidly advances as [...]

Equity report: Proact – Seeking longer contracts to improve margins

Analysts Klas Danielsson and Dante Haques have examined the prospects for Proact, operating within data storage and consulting. Importantly, added focus on longer contract periods [...]

Equity report: Note – Strong financial position enables exponential growth through acquisitions

In this equity report, analyst Oscar Johannesson evaluates NOTE, a northern European local manufacturer and logistic partner operating on a global scale manufacturing electronic products [...]

Equity report: Siili Solutions Oyj – Risk controlled expansion through organic and inorganic growth

Analyst Panu Pikkanen investigated the growth and return outlook of Siili Solutions Oyj, a software developer listed on OMX Helsinki. The company has achieved significant [...]

Macro report: The booming Swedish Housing Market

In recent years housing prices have grown strongly in Sweden, and with them the ratio of household debt to household income. This has caused some [...]

Equity report: West International – Global expansion about to take off

Analysts Samuel Hammarling and Wilhelm Rippe have investigated the outlooks for West International, a company delivering transaction- and payment solutions for retailers. Though a fairly [...]

November 2017

Equity report: Waystream Holding – Shift in operational focus is expected to generate further growth

In this equity report, analyst Jonna Tillenius evaluate Waystream Holding. The company is shifting their operational focus from product development to sales and marketing. The [...]

Equity report: Tourn International – Further growth potential in modern marketing approach

In this equity report, analysts Edvin Sjökvist evaluate Tourn International. The company is expected to grow revenues more than threefold during 2017 by exploiting new [...]

Equity report: Firefly – Subdued operational risk with substantial upside potential

Analysts Sebastian Hofstedt and Emil Erbring investigate the outlook of Firefly, which specializes in fire protection for industrial plants, oil rigs and infrastructure projects. The [...]

Equity report: Novotek – A venture into cyber security creates opportunities for future growth

Analysts Klas Danielsson and William Wiksell have investigated the outlooks for Novotek, which specialize in automation and IT solutions for the industrial sector. Through the [...]

Wise Group – Recurring revenues and high dividends yield combined with expected growth

In this equity report, analysts Johan Brown and Patrik Nilsson evaluate Wise Group. The company has shown growth potential and opt towards further acquisitions. The [...]

Equity report: Swedencare – Well-established distribution network aligns synergies for new product acquisitions

In this equity report, analyst Anton Ljung evaluates Swedencare. The report discusses how Swedencares well-established distribution network has the potential to leverage future sales growth [...]

Equity report: Stille – Acqusition strategy predicted to optimize cost base and contribute to revenue growth

In this equity report, analysts Enes Ljuca and Dante Haques evaluate Stille. The report discusses possibilities for further cost synergies and operational leverage after recent [...]

Equity report: NETG – Reorganised capital structure and interesting profitable growth

In this equity report, analysts Kevin Nilsson and Olle Göransson evaluate Net Gaming Europe. The company has recently gone through major transformations with regards to [...]

Equity report: Homemaid – potential spinoffs reveal hidden values

Analysts Gustav Nilsson and Sebastian Würtz have investigated the outlooks for Homemaid, specialising in household services and senior recruitment. The company has a leading position [...]

Equity report: Avensia – The expansion of Storefront is about to take off

In this equity report, analysts Teodor Sjöberg and Henrik Guditz evaluate the software developer- and IT-consultancy firm Avensia. The analysts portray different near term outcomes [...]

October 2017

Equity report: Stillfront – Diversified portfolio aligned for profitable growth

In this equity report, analysts Jakob Lembke and Johan Cisneros evaluate Stillfront group. The company has shown double-digit growth the past years, partly boosted by [...]

May 2017

Equity report: Possibilities through acquisitions in the casino-segment

The recent acquisition of Highlight Media changes the direction of the company. Adding an affiliate-network to the current operations (pokerloco & casinoloco) sets Net Gaming [...]

Macro report: Analysis of European macro data & equities

In the last analysis from our macro team for the semester, the analysts makes a case for European equities. The case builds on the recent [...]

Equity report: Fastout – possibilities of profitability

In this equity report on Fastout analyst Henrik Sundström evaluates the possibilities of profitability in the near term future. Analyst Sundström pinpoints that the drone-niched [...]

Macro report: The US-economy, doom or gloom?

The head of our macro team, Sebastian Svensson-Bromert, explores the health of the US economy and the possible headwinds with the US automotive industry as [...]

LINC Articles: Publication III – Financial Products

In this LINC article about financial products, analyst Andreas Israelsson, analyst Daniel Rosengren and analyst Jesper Carlsson have analyzed one phenomenon each related to financial [...]

Equity report: Drillcon – Payoff from streamlining and investments

In this equity report, analysts Douglas Tindberg and Wilhelm Sondén evaluates Drillcon. The company has divested their operations in Finland, and simultaneously started investing in [...]

April 2017

Equity report: ENEA – Further strengthens its position

In this report analyst Daniel & Cecilia evaluates Enea, a company specialized in providing communicational software. Technical analyst is Daniel Rosengren. The analysis focuses on [...]

Equity report: Semcon – Possible revaluation?

Analyst Fredrik von Plomgren has written a report about Semcon, an international product development company. Technical analyst is Davud Serezlic. The analysis focuses on the [...]

Equity report: Solteq – Growth potential through acquisitions

In this report analyst Nils Betsholtz is diving into Solteq, a Finnish IT-consultant operating since 1982. The analysis discusses the promising prerequisites for topline and [...]

LINC Articles: Publication II – Flag pattern and the scallop formation

In this LINC article about pattern formations, analyst Carl Becht and Dado Serezlic have analyzed one pattern formation phenomenon each within technical analysis: the Flag [...]

Equity report: Eurocon – Increased margins despite labour shortage

In this report analyst Jesper Wijk evaluates the prospects of Eurocon, a company operating in the engineering-consultancy sector. The analyst sheds light on how the [...]

Equity report: Motion Display – Exhibiting economies of scale

This report is written by Henrik Sundström, and technical analyst in the report is Jesper Carlsson. The analysis focuses mainly on the operative leverage of [...]

Equity report: NGS – Offering exposure towards structural growth

In this report, analyst Gustav Furenmo evaluates the prospects of NGS, a company facing structural headwinds in their cost base, but at the same time a [...]

Equity report: Mr. Green – Bright outlooks after solid 2016

This report is written by Filip Eriksson, and the analysis focuses mainly on new growth areas for Mr Green.  The analysis is written in Swedish. [...]

Equity report: MQ – High yield and growth potential

This equity report is written by analysts Douglas Tindberg and Wilhelm Sondén, and they investigate the outlooks for MQ. If you want to contact the analysts, [...]

Equity report: Uniflex – Is strong market growth enough?

In this equity report, analysts William Celsing and Nils Betsholtz investigates the prospects of Uniflex as an investment. If you want to get in touch with [...]

Macro report: The case for uranium – Deal or doom

This week, macro analyst Martin Holmquist provides us with an analysis of the market for uranium. The analysis feature a breakdown of the growth prospects [...]

March 2017

Equity Report: Absolent Group – Expanding in a growing market

In this equity report, analysts Cecilia Skoglund and Daniel Nilsson evaluates Absolent Group. If you want to get in touch with the analysts, please send [...]

Introducing LINC Articles: A brand new article series from our TA-team

In this LINC article, six analysts have described one useful tool or phenomenon within technical analysis as well as regressional finance. Every article has an [...]

Equity report: ZetaDisplay – Growth through strategic acquisitions

In this equity report, analyst Jesper Wijk evaluates the investment prospects of ZetaDisplay. Technical analyst is Andreas Israelsson. This report is written in Swedish. Case summary: [...]

Macro report: An outlook for the wind energy market

This week, macro analyst Ludvig Tingåker provides us with an analysis of the Wind energy market. The analysis feature a break down of the growth [...]

Macro report: Japanese equity – an outlook for an overlooked market

This week, macro analyst Sebastian Svensson Bromert provides us with an analysis of the Japanese equity market. The analysis features macro, exploring mainly the currency and [...]

Macro report: The case for investing in Africa

This week, Ludvig Tingåker and Martin Holmqvist from our macro team, evaluates the investment prospects of Africa. Case summary Increasing population Extensive amount of natural [...]

February 2017

Equity Report: Tobin Properties – solid real estate portfolio

In this report, analysts Gustaf Nordenlöw and Valentino Rogic evaluates the potential of the real estate company Tobin Properties. This case is written in Swedish. If [...]

Macro Report: FX analysis – What next for the Euro?

In this macro report, Master student Alex Mikaelsson provides us with an in-depth analysis of the currency. Macro and political factors are examined complemented by [...]

Equity Report: NEPA – Strong growth but high expectations

NEPA is concluded to have a bright growth outlook, but is the current valuation fair? In this report, analyst and bachelor student Nils Betsholtz evaluates what [...]

Equity Report: Polygiene – Odour free turn around?

In this analysis, Jesper Wijk and Filip Eriksson analyze Polygiene. The company is currently striving to expand its business, and according to this report, Jesper [...]

January 2017

Macro Report: The Case for European High Yield

The spring semester's first analysis comes from our macro team. In this report, analyst and master student Alex Mikaelson looks into the investment prospects of the [...]

Macro Report: Analyzing what a Trump win means for markets

In this report, macro analysts Alex Mikaelsson and Martin Nilsson analyze the potential implications of Trumponomics regarding FICC - Fixed Income, Currencies and Commodities. If you want [...]

December 2016

Equity Report: eWork Group – strengthening its unique position

eWork Group AB has an interesting position as a an intermediary in the consulting business, and in this report, Analysts Gustaf Nordenlöw and Daniel Nilsson, [...]

Equity Report: Lovisagruvan – a high risk mine

Lovisagruvan is a Swedish mining company, and analysts Thuva Mayonmarukan and Jesper Wijk investigate the future potential of its business. If you want to contact [...]

Equity Report: Nordic Leisure – growth through acquisitions

In this report, analysts Christan Erlandsson and Victor Väggö analyzes the online casino company Nordic Leisure, by evaluating the potential growth strategies that can increase [...]

Equity report: Bredband2 – increased B2B investments

In this equity report, master students Filip Düsing and Marcus Levéen Pehrsson analyze Bredband2, and evaluate how the growth strategy affects forward looking multiples and cash [...]

Macro report: Copper – a metal with potential

The head of our macro team, Sebastian Svensson-Bromert, looks into the investment prospects of copper in this report. If you want to contact him or if [...]

November 2016

Equity Report: Somero – continues to strengthen its position

This equity report is written by master-students Laura Christoffel and Vili Korpela, and the report evaluates Somero. This is the first report for the semester [...]

Equity Report: A City Media – solid growth and margin expansion

This analysis is written by Gustaf Nordenlöw and Henrik Sundström, and they look into the potential outcomes of A City Medias strategy going forward, and [...]

Equity Report: Novus Group International

In the first equity report from LINC R&A for this semester, analyst Gustaf Nordin evaluates Novus Group International as an investment prospect. This analysis in written in [...]

October 2016

Macro report: Scenario analysis of the upcoming OPEC meeting

LINC R&A presents our second macro analysis for the semester, a scenario analysis of the upcoming OPEC meeting. This analysis was written by our macro [...]

Macro Report: Analyzing the events in Q4

This week, analysts Martin Nilsson and Alex Mikaelsson from our Macro-team has analyzed the major economic events in Q4 2016. What are the potential consequences of [...]

September 2016

Macro report: Does silver shine brighter than gold?

The first analysis of this semester comes from the macro team within LINC R&A. The analysts have evaluated the silver market and the future potential of silver as an [...]