Valmet’s share price reacted strongly to the positive earnings warning, with analysts mentioning a significant number of short-sold positions as a key factor. The stabilization of Valmet’s operational environment in certain customer sectors, especially the chemical forest industry, was seen as a positive.
The Helsinki Stock Exchange opened quietly on Friday with a gentle 0.1 percent rise, bringing the general index to 10,128 points. In the most traded stocks, Nordea had risen by 0.6 percent, while another stock had seen a 0.3 percent increase.
Some target price increases were announced in the morning, particularly in the engineering workshop sector. Valmet was the second most traded stock of the morning, rising by 0.4 percent after raising its own target price from EUR 29.00 to EUR 28.50 and announcing buy recommendations from Inderes and OP.
Evli upgraded Etteplan’s recommendation to a buy level from hold level, keeping the target price at 14.50 euros while Konecranes announced the departure of Juha Pankakoski, director of Port Solutions business area and member of management team who will be leaving to pursue another position outside company.
