Sauli, the diligent worker at the Ruoholahti cooperative, has prepared a new company report on Evli 
Evli’s Q2 report went largely according to our expectations, and the company continued its impressive progress. We have slightly raised our forecasts, and the earnings growth outlook for the coming years remains strong. At current earnings levels, the stock is fairly priced, but the total return expectation offered by earnings growth and dividends remains attractive. We are adjusting our target price to 27.0 euros (prev. 26e) and reiterating our “accumulate” (lisää) recommendation.
Quoted from the report:
Guidance reiterated, tough comparables ahead for the second half
As expected, Evli reiterated its guidance for the current year, according to which the company estimates that its operating profit will be clearly positive. As we have noted previously, the informational value of the guidance is low, and the company will likely refine it as the second half of the year progresses. The company’s management pointed out that the comparability of the second half of the year is burdened by the exceptionally high performance-based fees booked in the second half of last year. Due to the decline in performance fees, earnings will no longer improve in H2; however, we expect the earnings mix to improve significantly compared to the exceptionally weak level seen in 2025 by Evli’s standards.