Wallenstam continues to rise after Q2 results, analysts cite new projects
** Shares in Swedish real estate firm Wallenstam WALLb.ST rise 6.3% to the top of the pan-European STOXX 600 .STOXX, with analysts citing improved forecasts, new projects and favourable economic conditions after Q2 results on Monday
** The stock closed 1.6% higher on Monday after the results were published in the afternoon
** Carlsquare analyst Bertil Nilsson notes CEO Hans Wallenstam sounded optimistic about the future of the firm's residential projects in his Q2 commentary, given lower inflation and interest rates
** "Ongoing rental housing under production increased, driven by a major project in Stockholm, and Wallenstam will repurchase shares citing improved market conditions and the share's P/net asset value discount," Kepler Cheuvreux says via Swedbank Aktiellt equity research service
** Kepler adds Wallenstam's launch of a new 408-unit Stockholm project marks its highest production levels since Q1 2023
** The shares are on track for their best day since mid-December if gains hold, recuperating YTD losses
Reporting by Jesus Calero
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