BofA upgraded SKF AB (SKFRY) to Buy from Neutral with a price target of SEK 280, up from SEK 240. BofA thinks the company is “on the cusp of an acceleration” in sales and profit growth due to improving EU short-cycle momentum. The firm added that the “ongoing drag from Autos will become less impactful given the planned spin-off in 2026.” However, BofA noted that Kion (KIGRY), which the firm also rates a Buy, remains its top pick in the space.
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