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Global growth is moderate, with the US benefiting from the presidential election while Europe lags. In the Nordic region, strong private consumption is expected due to favorable job prospects and falling interest rates, despite challenges in Denmark and Finland. Norway and Sweden are poised for recovery, supported by low inflation and increased purchasing power.
BNP Paribas Exane has raised its target price for Nordnet to SEK 195 from SEK 185, while maintaining an underperform rating. Nordnet AB, a Sweden-based company, provides a digital platform for savings and investments, catering to private savers in Sweden, Norway, Denmark, and Finland. The platform offers low-cost financial products and features a social investment network with over half a million members.
E.ON SE, a leading electricity and gas producer and distributor, generates net sales primarily from electric energy (61.7%) and gas distribution (25.6%), with other activities accounting for 12.7%. Geographically, sales are concentrated in Germany (40%) and the United Kingdom (35.4%), with smaller shares in Sweden (2.3%), the Netherlands (1.5%), and other European regions (20.7%).
Analysts have updated their recommendations for several companies, with notable changes including Accor's price target raised to EUR 54 and Legrand upgraded to buy with a target of EUR 125. UBS Group was downgraded to underperform, while Renault's target increased to EUR 68. Other adjustments include Michelin and Ipsen, both seeing target revisions.
E.ON SE is a prominent electricity and gas producer and distributor, with net sales comprising 61.7% from electricity sales, 25.6% from gas distribution, and 12.7% from other activities. Geographically, its sales are primarily from Germany (40%) and the UK (35.4%), with smaller contributions from Sweden, the Netherlands, and other European regions.
UBS has raised its target price for Avanza Bank Holding AB to SEK 250 from SEK 217 while maintaining a "sell" rating. The Sweden-based financial services company provides a platform for savings and investments, targeting individual and professional investors with a range of products, including pensions and mortgages. Avanza Bank operates through its subsidiaries, offering low brokerage fees and no fixed account charges for its customers.
Tele2 AB's stock fell 2.8% following a downgrade to "sell" by UBS, which cited weak momentum and concerns over earnings from free cash flow. The brokerage lowered its price target to SEK 102, predicting challenges due to declining service revenue, mobile pricing pressures, and increased cash taxes. Despite potential long-term upside from regulatory changes, UBS warns that Tele2 may struggle to meet dividend commitments amid rising competition in the Nordic telecom sector.
Tele2 AB's stock fell 2.8% following a downgrade to "sell" by UBS, which cited weak momentum and concerns over earnings from free cash flow. The brokerage lowered its price target to SEK 102, predicting challenges due to declining service revenue in Sweden, increased cash taxes, and ongoing capital expenditures. While there may be long-term upside from regulatory changes, UBS warns that Tele2 is unlikely to meet dividend commitments without significant pressure on cash flow.
UBS has downgraded Tele2 from neutral to sell, reducing its target price to SEK 102 due to concerns over the company's declining momentum and dividend coverage compared to competitors like Telenor and Telia. The bank forecasts Tele2's free cash flow for 2025 and 2026 to be 7% and 10% below consensus, citing the shutdown of legacy TV services and tax uncertainties as contributing factors. Despite these challenges, UBS notes potential long-term benefits, including focused market exposure and an attractive dividend policy, while favoring Telenor in the Nordic telecom sector.
Boliden's shares rose 2.5% after UBS upgraded its recommendation from sell to neutral, increasing the target price from SEK 300 to 310. The reassessment follows Boliden's acquisition of Lundin Mining's European mines, which UBS views as strategically beneficial and likely to enhance earnings through synergies. The transaction is expected to close in mid-2025.
Swedish Krona
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Nordea Economic Outlook predicts consumer recovery across Nordic countries
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09:07 22.01.2025
BNP Paribas Exane raises Nordnet target price to SEK 195 while underperforming
06:23 22.01.2025
EON AG receives buy rating from UBS amid strong market presence
13:07 21.01.2025
analysts update recommendations and price targets for major european companies
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08:38 21.01.2025
ubs maintains positive outlook on eon ag stock performance
17:27 17.01.2025
ubs raises avanza target price to 250 sek maintains sell rating
10:00 14.01.2025
ubs downgrades tele2 to sell amid weak momentum and cash flow concerns
13:50 10.01.2025
ubs downgrades tele2 to sell amid weak momentum and cash flow concerns
13:49 10.01.2025
ubs downgrades tele2 to sell cites concerns over momentum and dividends
10:20 10.01.2025
boliden shares rise as UBS upgrades recommendation and target price
13:35 07.01.2025
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