Pareto Securities
Pareto Securities is an independent full-service investment bank and broker headquartered in Oslo and majority-owned by Pareto AS. It is known for Nordic equity and high-yield bond capital markets and for research on energy, shipping, seafood and other sectors where Nordic companies are prominent.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 2212M
- Actions
- 2412M
- Ratings / Price targets
- 24 / 0
- Upgrades / Downgrades
- 11 / 12
- Initiations
- 1
- Buy-rated
- 55%of 22 rated
- On record
- Mar 2012 – Sep 2026
Overview
The research unit has about 50 professionals in Oslo, Stockholm and Frankfurt as of 2026, including about 40 in equities and 10 in credit. Equity research covers most listed companies in Oslo and Stockholm and about 100 German companies, focusing on energy services, E&P, shipping, seafood, renewables, industrials, technology, financials and telecoms.
Pareto Securities was established in Oslo in 1986 as an independent partnership and later sold to Oslobanken; Svein Støle and other investors bought it in 1992. It entered Sweden and Finland by acquiring Öhman Fondkommission at the turn of 2011–12, the UK through London-based Ocean Equities in 2013, and Germany through Equinet Bank in 2018. Pareto AS owned 65.6% as of 2025, when the firm had 489 employees.
Milestones
- 1986
Established in Oslo as an independent partnership
- 1992
Svein Støle and other investors buy firm from Oslobanken
- 2012
Acquires Öhman Fondkommission, entering Sweden and Finland
- 2013
Acquires London-based Ocean Equities; opens Houston office
- 2018
Acquires Germany's Equinet Bank
Firm facts
- Legal name
- Pareto Securities AS
- Type
- Full-service
- Founded
- 1986
- Headquarters
- Oslo, Norway
- Parent
- Pareto AS
- Group Chief Executive Officer
- Christian Jomaas
- Head of Equity Research
- Eirik Haavaldsen
- Rating scale
- BuyHoldSell12 months
- Also filed as
- Pareto
- Website
- paretosec.com
Research philosophy
First-hand knowledge of a company’s ability to raise debt capital is a prerequisite for understanding its chances of success in the equity market.
Pareto Securities describes its research as focused on investment cases and grounded in long-term industry expertise. Its parent's 2025 annual report says the department has shifted from routine company reporting toward case studies. Credit analysts cover all high-yield bonds brought to market by Pareto and collaborate with equity analysts on company and industry research. Investor seminars and field trips also form part of the research process.
Rating methodology
Ratings are Buy, Hold and Sell, defined by expected total return above 10%, between -10% and 10%, or below -10% over 12 months.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
| ABABBNY | Buy | — |
| HOHOEGF | Buy | — |
| AFAFXXF | Buy | — |
| ALALFVY | Buy | — |
| ASASTVF | Sell | — |
| BIBIOVF | Hold | — |
 BW LPG LimitedBWLP | Buy | — |
| CLCLVSF | Hold | — |
| EPEPOKY | Buy | — |
| GJGJNSY | Hold | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Sep 22 | HXHXPLF | Initiate | Buy |
| Sep 21 | VEVEFFF | Downgrade | Hold |
| Sep 13 | HOHOEGF | Upgrade | Hold →Buy |
| Sep 10 | BW LPG LimitedBWLP | Upgrade | Hold →Buy |
| Aug 24 |  Golar LNG LimitedGLNG | Upgrade | Hold →Buy |
| Aug 24 | SPSPIZF | Upgrade | Buy |
| Aug 12 | HOHOEGF | Downgrade | Hold |
| Aug 4 | HXHXGCF | Upgrade | Hold →Buy |
| Jul 22 | ALALFVY | Upgrade | Hold →Buy |
| Jul 21 | EPEPOKY | Upgrade | Buy |
| Jul 16 | ABABBNY | Upgrade | Hold →Buy |
| Jul 13 | CLCLVSF | Downgrade | Hold |