Thule Group reinstated with a Hold at Jefferies

Jefferies reinstated coverage of Thule Group (THUPY) with a Hold rating and SEK 340 price target After the fourth consecutive year of underperformance for European midcaps, Jefferies says 2025 holds more favorable conditions with the end to the rate cycle and optionality that comes with growth, cash-flows and more conductive capital markets. The firm does not expect a “hard landing” for global growth, which it says offers potential for substantial re-rating of cyclical names. Jefferies took a fresh look at investment ideas for the current market phase, and changed eight ratings.