AFRY AB Class B, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Adela Dashian from Jefferies maintained a Buy rating on the stock and has a SEK240.00 price target.
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Adela Dashian’s rating is based on AFRY AB Class B’s strategic acquisition of Reta Engenharia, a Brazilian firm that specializes in project and construction management within the mining and metals sector. This acquisition is set to bolster AFRY’s industrial capabilities in the Americas by adding over 200 specialists to its existing team of more than 1,200 professionals in Brazil.
Although Reta’s contribution to AFRY’s annual revenue is relatively modest, with projected 2024 net sales of approximately SEK 135 million, the acquisition aligns with AFRY’s strategic objectives to enhance local expertise and expand its presence in key growth markets. The deal, which is anticipated to finalize in the third quarter of 2025, underscores AFRY’s commitment to strengthening its industrial footprint, thus justifying the Buy rating.
Dashian covers the Consumer Cyclical sector, focusing on stocks such as Thule Group AB, MIPS AB, and Tomra Systems ASA. According to TipRanks, Dashian has an average return of 11.8% and a 64.94% success rate on recommended stocks.
In another report released on July 2, Kepler Capital also maintained a Buy rating on the stock with a SEK213.00 price target.