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JPM raises Nordnet to ‘neutral’ rating, highlighting its technological edge – TradingView News

Swedish investment firm Nordnet SAVE recently received a boost from brokerage firm J.P. Morgan, which upgraded its rating from “underweight” to “neutral”. The upgrade was due to the company’s technological advantage over top competitor Avanza AZA, and its ability to launch new products and implement new functionalities, particularly its ongoing transition to cloud technology.

J.P. Morgan also highlighted the potential of Nordnet’s increased marketing spend to attract more customers at the expense of Avanza, which still needs to upgrade its technology and make the transition to the cloud. However, the brokerage firm also warned that Nordnet’s current valuation may be seen as “very generous” and could lead to underperformance in the near future.

Nordnet is currently rated by 11 analysts, with four giving it a “strong buy” or “buy”, three giving it a “hold”, and four giving it a “strong sell” or “sell”. This mixed sentiment reflects the uncertainty surrounding Nordnet’s future performance in the market.

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