Barclays analyst Namita Samtani upgraded DNB Bank to Overweight from Underweight with a price target of NOK 240, up from NOK 202. The analyst is now more constructive on Norway relative to Sweden, Denmark and the Baltics. The market underappreciates Norwegian bank exposure, given Norway may be the last country within the Nordics and Baltics to cut rates, the analyst tells investors in a research note.
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