Kongsberg Gruppen (KOG) recently reported stellar Q1 2025 results, with an 81% increase in EBITDA and a 63% rise in order intake, driven by heightened demand for defense systems amid escalating geopolitical tensions.
However, shortly after these impressive results, DNB Markets downgraded KOG to a 'sell' rating, causing the stock to decline.
This move is particularly puzzling given that DNB Asset Management is among the top 20 shareholders in Kongsberg Gruppen, holding approximately 1.02% of the company.
The timing of the downgrade raises questions about potential conflicts of interest. Is DNB attempting to drive down the stock price for strategic reasons?
Would appreciate hearing others' thoughts on this situation.