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2016年-Europe Research Team: Nordic Countries, No. 3: Mika Koskinen & team
Although Mika Koskinen and his 44-strong, Stockholm-based crew at SEB Equities tumble from first place to third, they retain an ardent client base.
Total appearances: 24
Team debut: 1992
AlthoughMika Koskinenand his 44-strong, Stockholm-based crew at SEB Equities tumble from first place to third, they retain an ardent client base. For example, one Boston-based fund manager values these researchers for their “good understanding of Scandinavian banking and finance — and especially their knowledge of the regulatory environment. Issues such as the weight of different categories of loans can result in a real advantage in Scandinavian markets, and because they’re much closer to local authorities, they’re able to stay on top of small policy changes that can give a financial institution a competitive edge.” The team has 44 members and maintains offices throughout the area. Among the 270 companies in its coverage universe, one favorite is Norwegian Air Shuttle, which is Scandinavia’s second-largest airline as well as the third-biggest low-cost carrier in Europe. The Bærum-headquartered company is also the fastest-growing airline in Europe. Not only has it doubled its fleet during the past five years, to 100 aircraft, but it also is ordering 255 planes for delivery by 2022, reports Koskinen, 48. In addition, the airline established a discount long-haul venture two years ago that provides service from several European cities to five U.S. destinations plus Bangkok. With a fuel-efficient fleet, lean operations and expansion throughout the region, NAS’s unit costs — already among the lowest in the region — are continuing to fall, he explains. Accordingly, his group foresees significant potential gains for the stock, pegging it at 400 Norwegian kroner. In mid-January it was changing hands at Nkr262.20.