Castellum downgraded to Underweight from Overweight at Barclays

Barclays downgraded Castellum to Underweight from Overweight with a price target of SEK 110, down from SEK 135. Contrary to many expectations, base rates are cut but real estate stocks are down and swaps rates move higher, the analyst tells investors in a research note. The firm says base rate cuts “don’t matter due to the inverted rate curve appears to be vindicated.”