The 2014 All-Europe Research Team: Nordic Countries, No. 2: Mika Koskinen & team

Seizing the No. 2 position for a second straight year areMika Koskinenand his 38-member squad at SEB Equities in Stockholm. Their portfolio encompasses 310 companies, with a “strong industrial focus,” according to one U.S. investor who particularly favors the researchers’ coverage of paper sectors and oil services names. The analysts “have a better understanding of the global competitive landscape,” the client adds, “and that’s crucial because so many companies headquartered in Scandinavia are high quality with a global reach.” Looking ahead, Koskinen’s crew recommends buying pharmaceuticals giant Novo Nordisk. “Markets are pricing in a significant reduction in the company’s growth rate in spite of strong growth products within diabetes and obesity that will boost growth both in the short and medium terms,” he advises. Moreover, Novo Nordisk, which is headquartered in Bagsvaerd, Denmark, has developed a robust pipeline for product launches through year’s end. Also favored is Marine Harvest, a Bergen, Norway–based multinational seafood producer. Strong demand and limited supply are propelling salmon prices higher, Koskinen notes, and the markets are undervaluing the growth prospects for the industry as a whole — and for Marine Harvest in particular.