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AF Gruppen upgraded to Buy from Hold at Kepler Cheuvreux

Kepler Cheuvreux analyst Martin Granviken upgraded AF Gruppen (AGRUF) to Buy from Hold with a price target of NOK 180, up from NOK 160. On 2026 consensus multiples, the stock trades at a historical discount, notes the analyst, who believes the stock will strengthen on multiples amid improving market conditions following a “clear” Q2 beat.

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