SKF AB downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded SKF AB (SKFRY) to Equal Weight from Overweight with a price target of SEK 193, down from SEK 250. The firm adjusted ratings in the European capital goods sector, saying short-cycle names will “feel the pai”n from tariffs first and will differ from prior downturns with an unlikely “V” shaped recovery. The backdrop for the sector was “already subdued,” with a muted recovery in industrial activity globally and minimal capex growth outside of hyperscaler investment, and President Trump’s “Liberation Day” only “adds on top,”the analyst tells investors in a research note.