JPMorgan analyst Dominic O’Kane upgraded SSAB AB (SSAAY) to Overweight from Neutral with a price target of SEK 77, up from SEK 58. The firm estimates Germany’s infrastructure and defense fund could create 65-95Mt total new steel demand, or 6-9Mtpa over 10 years. The firm cites SSAB’s infrastructure and defense exposure for the upgrade.
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