The Nordic Region - 2010
Dagens Industri and StarMine Present the Top Analysts of 2010 for the Nordic Region
Dagens Industri and StarMine, a Thomson Reuters company, are pleased to announce the results of StarMine's 2010 annual survey of analyst performance for The Nordic Region. StarMine, the leading provider of objective ratings of securities analysts, measures analysts' performance based on the return of their stock recommendations and the accuracy of their earnings estimates. The 2010 StarMine Analyst Awards program utilizes the I/B/E/S system as its data source. The 2010 awards for The Nordic Region are based on the period January 1, 2009 through December 31, 2009.
Analyst Spotlight: Bengt Kirkøen
This year’s top Overall Stock Picker for the Nordic Region is Bengt Kirkøen, who covers Financial Services and Diversified Industrials for Fondsfinans. Kirkøen’s most lucrative calls were on SpareBank 1 Nord Norge (ticker: NONG.OL), a Norwegian savings bank, and Storebrand (ticker: STB.OL), a financial services company in Norway. He remained bullish on SpareBank throughout 2009 as its share price increased by 168%, outperforming its industry peers by 113%. Kirkøen kept a "Buy" on Storebrand for most of the year as it gained 161% and outperformed its industry benchmark by 147%. Kirkøen is also the Nordic Region’s best Stock Picker in Financial Services and was the top Overall Earnings Estimator for the Nordic Region in 2009.
Methodology: View our awards methodology
| StarMine Analyst Awards
Methodology |
|
| StarMine objectively measures
the performance of analysts based on the returns of their buy/sell
recommendations and the accuracy of their earnings estimates. The
2009 awards for the Nordic region are based on the 2009
calendar-year performance of recommendations and estimates on
companies that are based in the Nordic region. Data Source StarMine's awards for the Nordic region are based on the estimates and recommendations as recorded in the Thomson Financial I/B/E/S database. StarMine uses the GICS (Global Industry Classification System) for its industry definitions. In some instances in the Nordic region, the GICS has resulted in industries that are not large enough for ranking purposes. When this has been the case, StarMine has combined multiple industries to reflect the way analysts typically organize their coverage for the region. For example, StarMine's "Health Care" industry in the Nordic region is a composite of the following GICS industries: Biotechnology, Health Care Equipment & Supplies, Health Care Providers & Services, Health Care Technology, Life Sciences Tools & Services, and Pharmaceuticals. Industry Stock Picking Awards Analysts are ranked according to their Industry Excess Return, computed from a portfolio simulation that measures each analyst relative to an industry-based benchmark. The top three qualifying analysts in each industry receive an award. Calculation of Industry Excess Return: All analyst returns are calculated relative to the return on a market capitalization-weighted portfolio of all of the stocks in a given industry. For comparison purposes, StarMine builds a non-leveraged portfolio for each analyst based on his recommendations. For each "Buy" recommendation, the portfolio is one unit long the stock and simultaneously one unit short the benchmark. The result gives the analyst credit for the amount by which the stock outperformed the benchmark. "Strong Buys" get a larger investment of two units long the stock and two units short the benchmark. "Holds" invest one unit in the benchmark (i.e., for an excess return of zero). "Sells" are the reverse: long the benchmark and short the stock. "Strong Sells" get a larger investment of two units long the benchmark and short the stock. The portfolio return is opportunity adjusted to facilitate a fair comparison of analyst performance regardless of their coverage universe. The resulting portfolio is rebalanced each month and whenever the analyst adds coverage, drops coverage, or changes a rating. Qualification Criteria: To qualify for a 2010 Industry Stock Picking Award, an analyst must have met the following criteria:
Overall Stock Picking Awards go to the top ten qualifying analysts, based on overall excess return. To calculate overall excess return, StarMine uses the weighted average of each analyst's Industry Excess Returns, where weighting is based on the number of stocks the analyst covers in each industry. Qualification Criteria: To qualify for the overall stock-picking awards, analysts must have covered at least five stocks. In addition, StarMine requires analysts to have earned at least a 5-star rating on their overall coverage (i.e., for all industries covered), as measured by StarMine's Coverage-Relative Rating. Overview of Earnings Estimate Awards StarMine's proprietary metric, Single-stock Estimate Score (SES), measures the accuracy of each analyst's earnings forecasts. SES is a measure of relative accuracy; that is, analysts are compared against their peers. An analyst's SES can range from 0 to 100, with 50 representing the average analyst. To get a score higher than 50, an analyst must make estimates that are both significantly different from and more accurate than other analysts' estimates. SES takes into account many factors: the analyst's absolute forecast error, the analyst's error compared to other analysts, the variance of the analysts' errors, the timing of the estimates, and the absolute value of the actual earnings for the stock. SES is computed daily and aggregated to provide scores on individual stocks, industries (the Industry Estimate Score), and the analyst overall (the Overall Estimate Score). Industry Earnings Estimate Awards To determine the winners of Industry Earnings Estimate Awards, StarMine ranks qualifying analysts based on their Industry Estimate Score for the stocks in a specific industry. Qualification Criteria: To qualify for this ranking, an analyst must have had coverage on at least five stocks throughout 2009. If an industry has fewer than 15 stocks, an analyst must have covered a minimum of three stocks or 1/3 of the stocks in the industry, whichever is greater. Overall Earnings Estimate Awards The ten qualifying analysts with the highest Overall Estimate Scores earn StarMine's Overall Earnings Estimate Awards. Qualification Criteria: To qualify for StarMine's Top 10 list, an analyst must have had coverage on at least five stocks throughout 2009. Top Ten Brokers The ten brokers whose analysts or research teams win the most individual analyst awards appear on the list of Top Ten Brokers. |
Trophies: Place an order
Dagens Industri and StarMine Present the Top Analysts of 2010 for the Nordic Region
Top Stock Pickers
| Rank | Analyst | Firm | Industries |
|---|---|---|---|
| 1 | Kirkøen, Bengt | Fondsfinans | Financial Services; Diversified Industrials |
| 2 | Lunde, Frederik | Carnegie Investment Bank | Energy, Utilities & Marine |
| 3 | Lundberg, Andreas | Handelsbanken Capital Markets | Consumer Goods & Services |
| 4 | Ahmad, Fasial Kalim | Handelsbanken Capital Markets | Metals & Materials |
| 5 | Strand, Peder | SEB Enskilda | Software & Services; IT Equipment; Telecommunication Services |
| 6 | Soikkeli, Jarkko | eQ Bank | Consumer Goods & Services; Metals & Materials |
| 7 | Räisänen, Jari | OKO Markets | Consumer Goods & Services; Metals & Materials; Diversified Industrials |
| 8 | Møller, Johannes | Danske Markets Equities | Energy, Utilities & Marine; Transportation |
| 9 | Swedbank Securities Metals & Materials Team | Swedbank Securities | Metals & Materials; Diversified Industrials |
| 10 | Karppinen, Kalle | Danske Markets Equities | Consumer Goods & Services; Diversified Industrials |
Top Earnings Estimators
| Rank | Analyst | Firm | Industries |
|---|---|---|---|
| 1 | With, Henrik | DnB NOR Markets | Energy, Utilities & Marine |
| 2 | van Kranenburg, Jan Willem | RBS | Real Estate |
| 3 | Westerberg, Sten | Öhman Fondkommission | Health Care |
| 4 | Billing, Stefan | HQ Bank | Telecommunication Services; Consumer Goods & Services |
| 5 | Tarr, Henry | Goldman Sachs | Energy, Utilities & Marine |
| 6 | Wolter, Jan | Deutsche Bank Securities | Financial Services |
| 7 | ABG Sundal Collier Telecommunication Services Team | ABG Sundal Collier | Diversified Industrials; Telecommunication Services |
| 8 | Liljedahl, Maths | Nordea Markets | Financial Services |
| 9 | CA Cheuvreux Media Team | CA Cheuvreux | Diversified Industrials; Media; Software & Services |
| 10 | Allsop, Myles | UBS | Metals & Materials |
Top Most Award-Winning Brokers
| Rank | Analyst | Number of Awards |
|---|---|---|
| 1 | Carnegie Investment Bank | 7 |
| 2 | SEB Enskilda | 6 |
| 2 | Swedbank Securities | 6 |
| 4 | DnB NOR Markets | 5 |
| 4 | Handelsbanken Capital Markets | 5 |
| 4 | OKO Markets | 5 |
| 7 | Danske Markets Equities | 4 |
| 7 | Nordea Markets | 4 |
| 7 | Öhman Fondkommission | 4 |
| 10 | ABG Sundal Collier | 3 |
| 10 | Deutsche Bank Securities | 3 |
| 10 | Goldman Sachs | 3 |
| 10 | HQ Bank | 3 |
Consumer Goods & Services
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Lundberg, Andreas | Handelsbanken Capital Markets |
| 2 | Rautionmaa, Matias | OKO Markets |
| 3 | Öhman Fondkommission Consumer Goods Team | Öhman Fondkommission |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Lycke, Stefan | Deutsche Bank Securities |
| 2 | Karppinen, Kalle | Danske Markets Equities |
| 3 | Pareto Consumer Goods & Services Team | Pareto |
Diversified Industrials
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Suttelin, Antti | Danske Markets Equities |
| 2 | Brännback, Jan * | Handelsbanken Capital Markets |
| 3 | Kaijala, Jan | Nordea Markets |
* This analyst is no longer active in our database.
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Rautionmaa, Matias | OKO Markets |
| 2 | Kinnunen, Miikka * | Carnegie Investment Bank |
| 3 | Eriksson, Anders | SEB Enskilda |
* This analyst is no longer active in our database.
Energy, Utilities & Marine
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Phillips, David | HSBC |
| 2 | Lunde, Frederik | Carnegie Investment Bank |
| 3 | Olsen, Truls | Fearnley Fonds |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | With, Henrik | DnB NOR Markets |
| 2 | Tarr, Henry | Goldman Sachs |
| 3 | Pareto Energy, Utilities & Marine Team | Pareto |
Financial Services
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Kirkøen, Bengt | Fondsfinans |
| 2 | Burda, Aurelijus | Terra Markets |
| 3 | Höglund, Niclas | Swedbank Securities |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Wolter, Jan | Deutsche Bank Securities |
| 2 | Liljedahl, Maths | Nordea Markets |
| 3 | Ekblom, Johan | BofA Merrill Lynch Global Research |
Health Care
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Jørgensen, Espen | DnB NOR Markets |
| 2 | Westerberg, Sten | Öhman Fondkommission |
| 3 | Vahlne, Gustaf | SEB Enskilda |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Westerberg, Sten | Öhman Fondkommission |
| 2 | Vahlne, Gustaf | SEB Enskilda |
| 3 | Jørgensen, Espen | DnB NOR Markets |
IT Equipment
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Swedbank Securities IT Equipment Team | Swedbank Securities |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Rauhala, Hannu | OKO Markets |
Media
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Stenvall, Kimmo | OKO Markets |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | CA Cheuvreux Media Team | CA Cheuvreux |
Metals & Materials
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Swedbank Securities Metals & Materials Team | Swedbank Securities |
| 2 | Vilval, Alexander | HQ Bank |
| 3 | Neckmar, Marcus | Evli Bank |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Allsop, Myles | UBS |
| 2 | Swedbank Securities Metals & Materials Team | Swedbank Securities |
| 3 | Kjellberg, Lars | Credit Suisse |
Real Estate
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Mortensen, Simen | DnB NOR Markets |
| 2 | Swedbank Securities Real Estate Team | Swedbank Securities |
| 3 | Nyman, Erik | Ålandsbanken |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | van Kranenburg, Jan Willem | RBS |
| 2 | Webb, Nick | Goldman Sachs |
| 3 | Claesson, Bengt | SEB Enskilda |
Software & IT Services
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Ward, Stefan | Handelsbanken Capital Markets |
| 2 | Jarutis, Jonas | Terra Markets |
| 3 | Torgersen, Espen | Carnegie Investment Bank |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Joelsson, Andreas | SEB Enskilda |
| 2 | Haavisto, Ilkka | Carnegie Investment Bank |
| 3 | Hollup, Hallgeir | ABG Sundal Collier |
Telecommunication Services
Top Stock Pickers
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Honko, Jari | eQ Bank |
| 2 | Torgersen, Espen | Carnegie Investment Bank |
| 3 | Pettersson, Stefan | Nordea Markets |
Top Earnings Estimators
| Rank | Analyst | Firm |
|---|---|---|
| 1 | Billing, Stefan | HQ Bank |
| 2 | Torgersen, Espen | Carnegie Investment Bank |
| 3 | ABG Sundal Collier Telecommunication Services Team | ABG Sundal Collier |
Transportation
Top Stock Pickers
No analysts qualified for this industry's awards.Top Earnings Estimators
No analysts qualified for this industry's awards.Upcoming awards
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