Nordea reiterates its Buy rating and price target of SEK 82 for bathroom company Svedbergs Group following its third-quarter report.
Adjusted EBITA was 7 percent below expectations due to margin pressure in the United Kingdom. The forecast for 2026 is cut by 1 percent, while 2027–2028 are left largely unchanged.
Nordea expects annual EBITA growth of 13 percent in 2025–2027 and a margin of 15.8 percent. The share is valued at approximately 9 times expected 2027 EBITA, which is considered attractive. Further acquisitions are seen as a potential upside.
