Nordea: shares down slightly despite broker upgrade
(CercleFinance.com) - Shares in Nordea, the biggest Nordic bank, fell slightly in late morning trading on Tuesday despite UBS upgrading the stock from "neutral" to "buy".
"Following recent underperformance we think Nordea offers attractive risk/reward and upgrade to buy", the broker said in a note.
Note that UBS has cut its target price for the share, to 90 Swedish kronor, vs. 94 Swedish kronor previously.
Nordea shares are currently down 0.2% at 80.3 Swedish kronor in Stockholm.
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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.
"Following recent underperformance we think Nordea offers attractive risk/reward and upgrade to buy", the broker said in a note.
Note that UBS has cut its target price for the share, to 90 Swedish kronor, vs. 94 Swedish kronor previously.
Nordea shares are currently down 0.2% at 80.3 Swedish kronor in Stockholm.
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.