Maintained Buy on Munters Group AB as Tariff Changes Pose Only Modest Earnings Risk

Munters Group AB, 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 SEK235.00 price target.

Adela Dashian has given his Buy rating due to a combination of factors that suggest tariffs should have only a modest effect on Munters Group AB. Management indicated that Munters’ cooling equipment is not treated as a metal‑derivative product under the revised Section 232 rules, so it avoids the new 25% duty level and instead remains subject mainly to the existing global tariff structure.

Under the current regime, Munters’ effective tariff exposure is estimated to stay around 10‑12%, broadly consistent with prior levels, implying no meaningful deterioration in cost or margin outlook. In addition, management reiterated that its earlier guidance for second‑quarter tariff impacts remains valid, reinforcing the view that near‑term earnings risk from the policy change is limited and supporting the case for maintaining a constructive stance on the shares.

In another report released on April 1, Kepler Capital also maintained a Buy rating on the stock with a SEK200.00 price target.