Barclays is concerned about weak lending trends and compressed net interest margins at Nordea following this morning’s report, while Inderes and SB1 Markets primarily highlight the uncertainty surrounding the paused share buybacks.
Barclays has an underweight recommendation and a price target of EUR 15. The bank is concerned about weak lending growth and compressed net interest margins, despite earnings being in line with expectations.
Inderes has a reduce recommendation and a price target of EUR 17.50. The research house expects a negative share price reaction due to the uncertainty surrounding capital distributions, despite continued strong profitability.
SB1 Markets has a buy recommendation and a price target of SEK 215. The bank views the report as neutral but expects the share to perform somewhat weaker than peer banks during the day. Earnings forecasts are expected to remain largely unchanged, while assumptions regarding capital distributions are lowered.
