SKF AB downgraded to Underperform from Hold at Jefferies

Jefferies downgraded SKF AB (SKFRY) to Underperform from Hold with a price target of SEK 205, down from SEK 220. The firm downgraded three names in the European capital goods space as part of its 2026 outlook. The short-cycle recovery trade is set to underwhelm,” the analyst tells investors in a research note. Jefferies says the short-cycle trade fueled by Germany’s spending plan last year “looks set to disappoint again.” Consensus estimates have volumes accelerating but underlying data remains weak, contends the firm.