Analysts and consensus estimates

Several equity analysts cover Danske Bank. The table below shows information about the analysts and their latest ratings.

Institution	Name, e-mail & coverage	Phone	Rating
ABG Sundal Collier	Claus Højmark Jensen Copenhagen E-mail: claus.jensen@abgsc.dk Has covered Danske since: 2007 Sectors covered: Banks and insurance companies Regions covered: Nordic	+45 33 18 61 13	Buy
Arctic Securities	Fridtjof Berents Oslo E-mail: fridtjof.berents@arcticsec.no Has covered Danske since: 2008 Sectors covered: Banks Regions covered: Nordic	+47 21 01 32 21	Buy
Autonomous	Jacob Kruse London E-mail: jkruse@autonomous-research.com Has covered Danske since: 2009 Sectors covered: Banks Regions covered: Nordic	+44 207 776 3425	Neutral
Bank of America/Merrill Lynch	Johan Ekblom London E-mail: johan_ekblom@ml.com Has covered Danske since: 2005 Sectors covered: European Banks Regions covered: Nordics and Greeks	+44 207 995 4091	Neutral
Carnegie	Thomas Johansson Stockholm E-mail: thomas.johansson@carnegie.se Has covered Danske since: 2009 Sectors covered: Banks and insurance companies Regions covered: Nordic Region	+46 8 676 8726	Outperform
Citigroup	Ronit Ghose & Henrik Christiansson London E-mail: ronit.ghose@citi.com E-mail: henrik.christiansson@citi.com Has covered Danske since: - Sectors covered: Banks Regions covered: Europe	+44 207 986 4028 +44 207 986 4100	Buy
Credit Suisse	Andreas Hakansson London E-mail: andreas.hakansson@credit-suisse.com Has covered Danske since: 2000 Sectors covered: Banks Regions covered: Nordic	+44 20 7888 6766	Outperform
Danske Markets Equities	Per Grønborg Copenhagen E-mail: pgrn@danskebank.dk Has covered Danske since: 1993 Sectors covered: Banks and insurance companies Regions covered: Nordic	+45 45 12 80 51	Not rated
Deutsche Bank	Jan Wolter Stockholm E-mail: jan.wolter@db.com Has covered Danske Bank since: 2005 Sectors covered: Financials Regions covered: Nordics	+46 8 463 55 19	Buy
DnB NOR	Odd Weidel Norway E-mail: odd.weidel@dnbnor.no Has covered Danske since: 2008 Sectors covered: Banks Regions covered: Nordic	+47 22 94 89 49	Hold
Execution	Fiona Swaffield London E-mail: fiona.swaffield@executionlimited.com Has covered Danske since: 2003 Sectors covered: Banks Regions covered: Europe	+44 207 456 1639	Not rated
Goldman Sachs	Aaron Ibbotson London E-mail: aaron.ibbotson@gs.com Has covered Danske since: 2005 Sectors covered: Banks Regions covered: Nordic	+44 207 774 6661	Neutral
Handelsbanken	Jakob Brink Copenhagen E-mail: jabr09@handelsbanken.dk Has covered Danske since: 2005 Sectors covered: Banks and insurance companies Regions covered: Nordic	+45 33 41 85 15	Buy
J.P. Morgan	Nana Francois London E-mail: nana.a.francois@jpmorgan.com Has covered Danske since: 2008 Sectors covered: Banks Regions covered: Nordic	+44 207 325 6424	Neutral
Jyske Bank	Christian Hede Silkeborg, Denmark E-mail: christian.hede@jyskebank.dk Has covered Danske since: 2007 Sectors covered: Banks and insurance companies Regions covered: Nordic	+45 89 89 70 41	Buy
Keefe, Bruyette & Woods	Henrik Schmidt London E-mail: hschmidt@kbw.com Has covered Danske since: 2003 Sectors covered: Banks Regions covered: Nordic and Europe	+44 207 663 5284	Market perform
LD Markets	Torsten Bech Copenhagen E-mail: tbe@ldmarkets.dk Has covered Danske since: 2004 Sectors covered: Banks and insurance companies Regions covered: Denmark	+45 33 38 73 21	Reduce
Macquarie (FPK)	Geoff Dawes London E-mail: geoff.dawes@macquarie.com Has covered Danske since: 2005 Sectors covered: Banks Regions covered: Nordic and Ireland	+44 20 3037 4084	Neutral
Morgan Stanley	Per Löfgren London E-mail: Per.Lofgren@morganstanley.com Has covered Danske since: 2005 Sectors covered: Banks Regions covered: Nordic	+44 207 425 9094	Equal-weight
Nomura	Chintan Joshi London E-mail: chintan.joshi@nomura.com Has covered Danske since: 2009 Sectors covered: Banks Regions covered: Nordics	+44 207 102 6597	Neutral
Nordea	Maths Liljedahl Sweden E-mail: maths.liljedahl@nordea.com Has covered Danske since: 2008 Sectors covered: Banks Regions covered: Nordic	+46 8 614 8894	Buy
Nykredit	Mads Thinggaard Copenhagen E-mail: madt@nykredit.dk Has covered Danske since: 2006 Sectors covered: Banks & Medtech Regions covered: Nordic	+45 44 55 11 71	Sell
Pareto	Haakon Boenes Oslo E-mail: haakon.boenes@pareto.no Has covered Danske since: 1996 Sectors covered: Banks and insurance companies Regions covered: Nordic	+47 24 13 21 18	Hold
RBS	Kristin Dahlberg London E-mail: kristin.dahlberg@rbs.com Has covered Danske since: 2007 Sectors covered: Banks Regions covered: Nordic	+44 207 678 7428	Hold
SEB Enskilda	Simon Christensen Copenhagen E-mail: simon.christensen@enskilda.dk Has covered Danske since: 2007 Sectors covered: Banks and insurance companies Regions covered: Denmark	+45 36 97 75 26	Sell
Swedbank Markets	Robert Matulin Stockholm E-mail: robert.matulin@swedbank.se Has covered Danske since: 2008 Sectors covered: Banks and financials Regions covered: Nordic	+46 8 5859 2583	Neutral
UBS	Nick Davey London E-mail: nick.davey@ubs.com Has covered Danske since: 2009 Sectors covered: Banks Regions covered: Nordic	+44 207 568 4409	Neutral

Last updated on January 27, 2010

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