Afry price target lowered to SEK 210 from SEK 240 at Jefferies

Jefferies analyst Adela Dashian lowered the firm’s price target on Afry (AFXXF) to SEK 210 from SEK 240 and keeps a Buy rating on the shares. The firm recalibrated its outlook for Afry to reflect a slower recovery and more gradual margin improvement. A strengthening backlog, ongoing restructuring, and strategic project wins provide visibility on earnings momentum, the analyst says, noting that this is a “timing adjustment, not a change in thesis.”