HMS Networks upgraded with re-rating ‘drawing closer’ at DNB Markets

DNB Markets analyst Joachim Gunell upgraded HMS Networks to Buy from Hold with a price target of SEK 375, up from SEK 310. The analyst expects a trough in order momentum by mid-2023 and says a share re-rating "is drawing closer." Order deceleration is priced in and the investment community will "increasingly look for signs of a recovery and the next growth phase," Gunell tells investors in a research note.