Over last year I have read many articles that have summed up analyst opinion (or recommendations) on Finnish stocks. In almost all cases, Orion has been one of the stocks that has gathered most "sell" recommendations.
Still, investors seem to like it because it hasn't behaved as analysts have recommended. Instead of going down, it has gone up.
On friday, it went up 12,50% after positive guidance for 2015.
Analysts were surprised.
It has to be said, that Orion is no longer the cheap looking stock I bought initially in 2011.
It has risen considerably over the years (2011-2014). Simultaneously, it has lost patent protection for its most important profit generators of past.
My original thesis was right. The stock price in 2011 fully discounted (and then some) losing the most imporant patent protections it had. Still today Orion keeps surprising the analysts with regards to how well it has come out of the tough situation.
I have sold some of it this year, but continue to hold it as not only it is still well yielding stock defensive stock. It also may have more positive surprises in store..
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