1— | KOG | Kongsberg Gruppen ASA | 85 | 88 | 80-2 | 72+4 | high | Kongsberg Gruppen's defence electronics and maritime systems are in a structural demand supercycle driven by elevated NATO spending, with strong order intake providing exceptional earnings visibility. | ▼ |
2— | SALM | SalMar ASA | 76+1 | 74 | 75+2 | 62 | high | SalMar's industry-leading biology performance and strong Norwegian harvest volumes position it as the highest-quality play on rebounding salmon prices. | ▼ |
3— | MOWI | Mowi ASA | 74+2 | 70+2 | 72+2 | 63-2 | high | Recovering Atlantic salmon spot prices combined with Mowi's global scale and cost discipline support a positive near-term setup ahead of Q2 volume guidance. | ▼ |
4▲3 | SUBC | Subsea 7 SA | 72+6 | 69+5 | 70+5 | 65+8 | high | Subsea 7's record backlog and strong offshore installation demand underpin earnings visibility over the next 1–4 weeks as the energy-services cycle remains robust. | ▼ |
5▼1 | DNB | DNB Bank ASA | 70 | 65-1 | 72-2 | 72 | high | DNB's dominant Nordic retail and corporate banking franchise delivers steady earnings growth supported by a still-elevated rate environment and strong credit quality. | ▼ |
6▼1 | AUSS | Austevoll Seafood ASA | 68 | 62 | 65 | 58 | medium | Austevoll benefits from recovering salmon spot prices and a diversified seafood portfolio, though smaller scale and execution risk cap upside vs. larger peers. | ▼ |
7▼1 | STB | Storebrand ASA | 67 | 63 | 68 | 68-2 | medium | Storebrand's growing life insurance and pension AUM benefit from demographic tailwinds and Solvency II capital improvements, with a rising dividend adding appeal. | ▼ |
8▲1 | ORK | Orkla ASA | 65+2 | 55 | 66 | 78 | medium | Orkla's defensive consumer staples profile and Nordic pricing power provide stability, though modest organic growth and a full valuation limit near-term upside. | ▼ |
9▼1 | TEL | Telenor ASA | 63-2 | 55-3 | 64-2 | 76 | medium | Telenor's stable Nordic telco earnings and solid dividend yield offer defensive appeal, though limited growth catalysts and Asian market complexity cap the overall score. | ▼ |
10▲2 | BWLPG | BW LPG Limited | 58+3 | 54+1 | 62+4 | 52+7 | medium | BW LPG is supported by firm LPG freight rates and attractive dividend yield, though fleet oversupply concerns and seasonal softness in the coming weeks temper enthusiasm. | ▼ |
11▲2 | NHY | Norsk Hydro ASA | 55+3 | 53+3 | 57+4 | 54+4 | medium | Norsk Hydro benefits from firm aluminium prices and its low-carbon green aluminium premium, though energy cost volatility and NOK strength create near-term margin uncertainty. | ▼ |
12▲3 | YAR | Yara International ASA | 52+14 | 48+14 | 52+12 | 50+8 | medium | Yara faces mixed signals — global fertiliser demand is recovering but natural gas input costs remain elevated and European competitive pressure persists, keeping the setup balanced. | ▼ |
13▼3 | EQNR | Equinor ASA | 48-13 | 43-13 | 58-9 | 52-10 | medium | Equinor's integrated model and renewable diversification offer relative resilience versus pure-play E&Ps, but oil price headwinds and energy-transition uncertainty limit conviction. | ▼ |
14— | SCATC | Scatec ASA | 44+2 | 40 | 42+4 | 38+2 | low | Scatec's emerging-market solar and wind pipeline offers long-run growth, but elevated project financing costs, currency risks in core markets, and near-term earnings volatility reduce short-term conviction. | ▼ |
15▼4 | AKRBP | Aker BP ASA | 42-16 | 38-14 | 55-9 | 45-10 | low | Softer Brent crude and rising OPEC+ supply cap near-term upside for Aker BP despite its strong production base and upcoming dividend, making risk/reward mixed. | ▼ |