{ }
UBS has raised its target price for Swedbank to SEK 249, maintaining a Buy rating. Swedbank operates primarily in retail banking, which accounts for 81.4% of its income, with significant operations in Sweden and the Baltic States. The group also engages in investment banking and asset management, managing SEK 1,305.9 billion in deposits and SEK 1,842.8 billion in loans as of the end of 2022.
10:06 24.10.2024
Zurich and Singapore have surpassed Geneva in a recent ranking of global financial centers for sustainable investments, with London maintaining its top position. The index, which evaluates 97 locations, highlights the strong performance of Swiss cities, including Lugano at 13th. Despite a slight decline in confidence regarding green finance, Western European centers continue to excel due to their expertise in developing sustainable financial products.
Hitachi Energy is hiring workers from Northvolt AB as the battery manufacturer lays off approximately 1,600 employees in Sweden. The demand for Hitachi's products, including transformers and electricity network equipment, is surging due to the rapid electrification of the economy.
Sweden’s largest bank, SEB AB, reported a 9.7% decline in net interest income for the third quarter, totaling 11.06 billion kronor ($1 billion), falling short of analysts' expectations of 11.31 billion kronor. The drop is attributed to the impact of central banks' interest-rate cuts on the bank's lending profits.
Erik Thedeen, chair of the Basel Committee on Banking Supervision, urged nations to finalize the Basel III Endgame capital rules, emphasizing their importance for global financial stability. He criticized bank lobbying against stricter standards, arguing that weaker regulations could lead to long-term economic pain. As U.S. regulators remain divided on implementing these rules, Thedeen called for consistency among countries to avoid a fragmented regulatory landscape.
00:45 24.10.2024
Sandvik AB (publ) was recently downgraded to a "sell" rating by UBS Group, despite having a "Strong Buy" rating from other analysts. The company's shares fell 0.7% to $20.06, with a 12-month range of $16.31 to $23.50. In its latest earnings report, Sandvik missed EPS estimates, posting $0.28 against a consensus of $0.30, while revenue reached $2.91 billion.
17:46 23.10.2024
Shares of Boliden and Sandvik fell after UBS downgraded both companies to "sell," citing company-specific challenges and sector-wide issues. Boliden's rating was cut due to declining metal grades and potential capital expenditure overruns, with a target price reduced to SEK 300. Sandvik faces pressure from weak demand in its metal cutting division and exposure to the automotive industry's shift to electric vehicles, leading to a target price cut to SEK 200 and lowered earnings estimates for 2024 and 2025.
15:25 23.10.2024
UBS has downgraded Sandvik to Sell, citing an unpriced potential structural decline in its Advanced Metal Cutting (SMM) segment, which constitutes 40% of sales. The new price target is SEK 200, down from SEK 230, following Q3 results that revealed declining volumes and weaker margins. Adjusted EBITA estimates for 2024 and 2025 have been reduced by 3.2% and 8.8%, respectively.
14:22 23.10.2024
UBS has downgraded Sandvik to a Sell rating, reducing the price target from SEK 230 to SEK 200, citing an unaccounted structural decline in the Advanced Metal Cutting (SMM) segment, which constitutes 40% of the company's sales. The downgrade follows disappointing Q3 results that revealed declining volumes and weaker margins in the SMM business, prompting UBS to lower its adjusted EBITA estimates for 2024 and 2025 by 3.2% and 8.8%, respectively.
14:22 23.10.2024
UBS has downgraded Boliden AB from Neutral to Sell, setting a price target of SEK 300.00, citing company-specific challenges despite a recent 20% share price increase driven by a market rally in industrial metals. Key concerns include lower ore grades at Aitik and Garpenberg mines, uncertainties surrounding the Kevitsa mine, and reduced Treatment and Refining Charges in smelting operations. UBS warns that the market may not fully recognize the earnings pressures Boliden could face in 2025, suggesting the recent price rally is an opportunity to reconsider a Sell position.
10:52 23.10.2024
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Newsletter

© 2025 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.