We initiate coverage of Eqva with a Buy recommendation and a target price of NOK 4.1/sh. Eqva is an industrial investment company providing technical services to smelters, aquaculture, offshore, maritime and energy end-markets through its portfolio of specialized companies. ~50% of revenues stem from recurring service and maintenance work, underpinning earnings visibility, while strong demand across multiple end-markets provides upside potential. The company exited 2025 with a healthy order back ....
