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SSAB AB upgraded to Overweight from Neutral at JPMorgan

SSAB AB upgraded to Overweight from Neutral at JPMorgan

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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