Neste shares on the rise – OP’s Antti Saari: “There is still quite a long way to go”

Fuel company In this posted on Wednesday morning crazy numbers from the first quarter. Comparable EBITDA quadrupled to EUR 861 million from a year ago and clearly exceeded analysts’ forecasts.

“There are really weak numbers below. It should be relatively easy to improve without the conflict in the Middle East,” he noted OP-Pohjolan chief analyst Antti Saari Directly from Kauppalehti In the Talousamau program on Tuesday.

He stated that things have gone in the right direction in the market: demand and margins have strengthened.

“It is a fact that the increased oil price supports Neste. Refining margins were really strong,” said Saari.

He said on Talousamau before the stock market opened that he believes that Neste’s stock will see a significant rise today, despite the fact that the company’s share price has already risen by more than 240 percent in a year.

“The valuation coefficients are still not very bad. If you look at where we started calculating 4-5 years ago, there is still quite a long way to go. I am not saying that it is necessarily the right level, but hard movements have been seen in both directions,” said Saari.

Neste’s share price rose by 3.7 percent soon after the stock market opened.

Wednesday’s Talousaam is hosted by a reporter Jussi Rosendahl.

The broadcast also analyzed Kone’s gigantic acquisition. You can watch Wednesday’s Economic Morning in its entirety below.

See all Financial morning programs here.