Jefferies upgraded Mips to Buy from Hold with a price target of SEK 645, up from SEK 330. The firm cites the company’s “strong” Q2 earnings beat and expects a continuation of the positive momentum in the second half of the year, with bike business improving further. Jefferies is also raising its FY24-FY26 EPS assumptions to reflect a more robust outlook and believes a return to over-30% sales growth and over-40% EBIT margins in FY25 and FY26.
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