Danske Bank
Danske Bank is Denmark's largest bank, headquartered in Copenhagen. Its Danske Bank Equity Research unit publishes research on Nordic listed companies.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1412M
- Actions
- 1412M
- Ratings / Price targets
- 14 / 0
- Upgrades / Downgrades
- 10 / 4
- Buy-rated
- 57%of 14 rated
- On record
- Feb 2013 – Sep 2026
Overview
Danske ranked first for domestic equity in Denmark in Kantar Prospera's client surveys for 2025. Danske also writes commissioned research, paid for by issuers.
Danske Bank traces its origins to Den Danske Landmandsbank, founded in Copenhagen in 1871 to finance farmers. It was renamed Den Danske Bank in 1976, merged with Kjøbenhavns Handelsbank and Provinsbanken in 1990 and adopted its current name in 2000. Acquisitions in Sweden, Norway, Northern Ireland and Finland built its footprint; its Estonian branch was at the center of a money-laundering case investigated in 2017–2018.
Milestones
- 1871
Founded as Den Danske Landmandsbank in Copenhagen
- 1976
Renamed Den Danske Bank
- 1990
Merges with Kjøbenhavns Handelsbank and Provinsbanken
- 2000
Adopts the name Danske Bank
- 2006
Acquires Sampo Bank in Finland and the Baltics
- 2018
Publishes findings of Estonian branch money-laundering investigation
Firm facts
- Legal name
- Danske Bank A/S
- Type
- Full-service
- Founded
- 1871
- Headquarters
- Copenhagen, Denmark
- Listing
- Nasdaq Copenhagen: DANSKE
- Chief Executive Officer
- Carsten Egeriis
- Rating scale
- BuyHoldSell12 months
- Website
- danskebank.com
Research philosophy
Equities Research offers in-depth research on a wide range of Nordic-listed companies with a successful mix of broad local knowledge, market experience and fundamental expertise.
Danske Bank's equity reports draw on discounted cash flow analysis, industry knowledge and comparisons with peers. Analysts build forecasts from individual business segments while taking the macroeconomic outlook into account. As of 2025, its monthly Nordic Stock Inspiration List combines strategists' top-down model with stocks carrying Buy ratings from analysts.
Rating methodology
Its ratings are absolute: Buy (expected total return above 10%), Hold (0–10%) and Sell (below 0%) over 12 months. Commissioned research gives a valuation range but no rating or target price.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
| AMAMBFF | Sell | — |
| AXAXFOF | Buy | — |
| ELELMUF | Buy | — |
 Telefonaktiebolaget LM Ericsson (publ)ERIC | Buy | — |
| FLFLIDY | Hold | — |
| FOFOJCY | Hold | — |
 Frontline Ltd.FRO | Sell | — |
| ISISSDY | Buy | — |
| LYLYSFY | Buy | — |
 Nokia OyjNOK | Buy | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Sep 16 | ISISSDY | Upgrade | Buy |
| Sep 10 | FOFOJCY | Upgrade | Buy →Hold |
| Aug 27 | FLFLIDY | Downgrade | Buy →Hold |
| Aug 21 | Frontline Ltd.FRO | Downgrade | Hold →Sell |
| Aug 20 | AXAXFOF | Upgrade | Buy |
| Aug 6 | WIWILYY | Downgrade | Hold |
| Jul 23 | NWNWARF | Upgrade | Hold |
| Jul 16 | ELELMUF | Upgrade | Hold →Buy |
| Jul 15 | Telefonaktiebolaget LM Ericsson (publ)ERIC | Upgrade | Hold →Buy |
| Jul 3 | SKSKBSY | Upgrade | Buy |
| Jul 2 | LYLYSFY | Upgrade | Buy |
| Jul 1 | Nokia OyjNOK | Upgrade | Hold →Buy |