Nibe Industrier downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Nibe Industrier to Underweight from Equal Weight with a price target of SEK 34, down from SEK 45. Consensus estimates assume a fast destock, sequential demand improvements and normalized margins by 2025, but recent channel checks suggest a more downbeat picture where demand is slow, the analyst tells investors in a research note.