Skandinaviska Enskilda price target lowered to SEK 195 from SEK 200 at Jefferies

Jefferies analyst Alexander Demetriou lowered the firm’s price target on Skandinaviska Enskilda (SVKEF) to SEK 195 from SEK 200 and keeps a Hold rating on the shares. While conditions for a Swedish recovery remain in place, ongoing uncertainty is likely to weigh on near-term growth and household consumption, the analyst tells investors in a research note. The firm added that it continues to see better value elsewhere in EU banks, as the Nordic banks continue to trade at a premium to the sector on less attractive fundamentals.