(News Bulletin 247) – UBS reiterates its advice to neutral on the value and lowers its target price to 58 Swedish crowns (against 62 Swedish crowns). The analyst believes that the industrial situation remains difficult.
“While we recognize that the risk/reward tradeoff may look attractive, we believe the value lacks near-term catalysts,” UBS said.
Recall that the group announced a net loss of -0.6 billion crowns for the 2nd quarter (against 4.7 billion crowns) mainly due to restructuring charges. Diluted EPS was -0.21 Swedish kronor (vs. 1.35 Swedish kroner).
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