Western European Countries – Nordic Countries: Third

Peter Karlsson’s Handelsbanken Capital Markets crew of 35 (five fewer than last year) slips one rung to third place. The Stockholm-based analysts dropped coverage of 20 companies but still follow an impressive 250 names. “They stay ahead of developing trends, they have good corporate relationships, and they’ve made some excellent stock calls during the past year,” says one backer. Adds another: “They provide broad coverage of Nordic corporates and differentiate themselves by looking in-depth at longer-term trends.” Case in point: Growth in online gambling prompted the team to dub Sweden’s Betsson a top pick for 2013, on its rising market share and revenues. The stock ended last year at 200.50 Swedish kronor; the Handelsbanken researchers have a target price of Skr235. They also like Yara International, a Norwegian producer of fertilizer and other agricultural products, primarily on surging demand. In late December the shares were trading at 273.80 Norwegian kroner; the team’s projected level for the shares is Nkr330.

— Paul Sweeney