SKF: shares slightly up on Berenberg upgrade
(CercleFinance.com) - The Swedish bearings maker SKF share is up nearly 1% today after Berenberg upgraded it from "sell" to "hold".
Berenberg said the risk/reward on the SKF stock appears to be "more balanced," following its 15% fall since its peaks in January, with a relative underperformance of 7% in the meantime.
The German broker also raised its target price on the share from 160 Swedish kronor to 180 Swedish kronor.
SKF shares are currently up 0.9% at 175.5 Swedish kronor on the Nasdaq OMX market.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Berenberg said the risk/reward on the SKF stock appears to be "more balanced," following its 15% fall since its peaks in January, with a relative underperformance of 7% in the meantime.
The German broker also raised its target price on the share from 160 Swedish kronor to 180 Swedish kronor.
SKF shares are currently up 0.9% at 175.5 Swedish kronor on the Nasdaq OMX market.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.