Valmet stock rises after target price increase in Stock Exchange

The Helsinki Stock Exchange opened quietly on Friday, with a gentle 0.1 percent rise, bringing the general index to 10,128 points. Among the most traded stocks, Nordea had risen by 0.6 percent, while In this was up 0.3 percent.

In the morning, there was an increase in the target price for certain stocks. Notably, there were increases seen in the engineering workshop sector, particularly in Valmet, which had issued a positive earnings warning the previous day. Valmet was also the second most traded stock of the morning, with its share rising by 0.4 percent.

Various financial institutions had also raised Valmet’s target price. Inderes raised it from EUR 29.00 to EUR 28.00, with the recommendation unchanged. OP raised the target price to EUR 30.00 from EUR 28.50, with the recommendation remaining the same. Nordea also raised the target price to EUR 32.00 from EUR 29.00, while keeping the buy recommendation unchanged.

According to OP’s morning review, the positive reaction to Valmet’s earnings warning was influenced by a significant number of short-sold positions. The stabilization of the operational environment in certain customer sectors, such as the chemical forest industry, was cited as a reason for increased predictability in Valmet’s near future.

In other news, Evli raised its recommendation on Etteplan to a buy level from hold, while keeping the target price at 14.50 euros. Konecranes announced that Juha Pankakoski, director of the Port Solutions business area and a member of the Konecranes management team, will be leaving the company to start a new position outside the company.