BofA downgraded Saab (SAABF) to Underperform from Neutral with a price target of SEK 444, up from SEK 428. The firm adjusted ratings in European defense, saying we are entering a decade of hard power over soft power. Companies with high levels of intellectual property across missiles, air, and autonomy precision strike have longer-duration growth trajectories, well beyond a decade of growth, that can support premium valuations mid-term, the analyst tells investors in a research note.
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