Nordea
Nordea is a Nordic banking group headquartered in Helsinki, Finland, and listed on Nasdaq Helsinki, Stockholm and Copenhagen. Its Equity Sales & Research unit covers about 300 Nordic companies and is part of what the bank describes as the largest research team in the Nordics.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1312M
- Actions
- 1412M
- Ratings / Price targets
- 14 / 0
- Upgrades / Downgrades
- 9 / 5
- Buy-rated
- 46%of 13 rated
- On record
- Sep 2012 – Aug 2026
Overview
Nordea Research has more than 130 analysts across equities, credit and macro, and equity coverage spans more than 15 sectors. As of April 2026, 60% of covered stocks were rated Buy, 35% Hold and 4% Sell. Some reports are paid for by the companies covered and flagged as marketing material.
Nordea grew out of a series of Nordic bank mergers: Finland's Merita, formed in 1995, combined with Sweden's Nordbanken in 1997, and in 2000 MeritaNordbanken merged with Denmark's Unidanmark and Norway's Christiania Bank og Kreditkasse, adopting the Nordea name. Its oldest predecessor bank dates to 1820. The group re-domiciled from Stockholm to Helsinki in October 2018, placing it under European Central Bank supervision.
Milestones
- 1820
Earliest predecessor, Sparekassen for Kjøbenhavn og Omegn, founded
- 1995
SYP and KOP merge to form Merita Bank
- 1997
Merita and Nordbanken merge as MeritaNordbanken
- 2000
MeritaNordbanken, Unidanmark and Christiania Bank combine as Nordea
- 2018
Re-domiciles from Stockholm to Helsinki
Firm facts
- Legal name
- Nordea Bank Abp
- Type
- Full-service
- Founded
- 2000
- Headquarters
- Helsinki, Finland
- Listing
- Nasdaq Helsinki: NDA FI
- President and Group CEO
- Frank Vang-Jensen
- Rating scale
- BuyHoldSell
- Website
- nordea.com
Research philosophy
Our ideas are well-researched, forward-looking, innovative and thought-provoking.
Nordea's equity research combines detailed company analysis with trading ideas, its Nordic Idea investment cases, and event-driven and sector research. As of 2026, the bank says its alternative-data unit, Nordea Data Lense, supports this work. Its reports state that analysts may not own shares in companies they cover and that their pay is not tied to capital-markets revenue.
Rating methodology
Stocks carry absolute Buy, Hold or Sell ratings set against the analyst's fair value estimate.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
| SASALRF | Hold | — |
| AMAMBBY | Hold | — |
| AMAMKBY | Hold | — |
| ELELMUF | Buy | — |
 Equinor ASAEQNR | Buy | — |
| FNFNNNF | Sell | — |
 Frontline Ltd.FRO | Hold | — |
| GNGNGBY | Hold | — |
| HMHMNTY | Buy | — |
| HOHOEGF | Buy | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Aug 31 | Frontline Ltd.FRO | Downgrade | Hold |
| Aug 31 | GNGNGBY | Downgrade | Buy →Hold |
| Aug 26 | AMAMBBY | Downgrade | Hold |
| Aug 26 | SASALRF | Upgrade | Sell →Hold |
| Aug 14 | AMAMKBY | Upgrade | Sell →Hold |
| Aug 13 | SASALRF | Downgrade | Sell |
| Aug 7 | HOHOEGF | Upgrade | Buy |
| Jul 23 | KNKNYJY | Upgrade | Sell →Hold |
| Jul 21 | HXHXPLF | Upgrade | Buy |
| Jul 21 | HMHMNTY | Upgrade | Buy |
| Jul 16 | ELELMUF | Upgrade | Hold →Buy |
| Jul 14 | FNFNNNF | Downgrade | Sell |