Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Ramirent Jumps to 1-Year High on Rental Demand: Helsinki Mover

Feb. 13 (Bloomberg) -- Ramirent Oyj, which rents equipment including scissor lifts and tower cranes, rose to the highest price in almost a year in Helsinki trading after Danske Bank A/S said an increase in demand will buoy the shares.

Ramirent rose as much as 4.1 percent to 8.07 euros, the highest intraday price since March 5. The shares were up 3.9 percent at 8.05 euros as of 12:35 p.m. in the Finnish capital, with trading volume more than three times the three-month daily average.

“Given indications of largely stable pricing in Nordic machinery rentals and likely improvement in volume outlook for 2014, we lift our target price to 9.5 euros a share and keep our buy rating,” Danske Bank analysts said in a note to clients today. Even so, earnings will decline in the first six months, they said.

In southern Finland and northern Sweden, demand is good for construction equipment for industrial building, Chief Executive Officer Magnus Rosen said on a conference call yesterday. Overall demand is good in Stockholm, western Sweden and Norway, he said. Finland, Sweden and Norway account for about 75 percent of Ramirent’s sales.

“It’s in general a good business atmosphere in Norway,” Rosen said. “Sometimes the sky is the limit.”

To contact the reporter on this story: Kati Pohjanpalo in Helsinki at kpohjanpalo@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.