Nordea reiterates its Buy rating for Finnish logistics company Hiab but cuts its price target to EUR 62 from EUR 70 after unexpectedly weak order intake in North America during the third quarter.
The bank cuts its EBIT forecasts for 2027 and 2028 by 12% and 9%, respectively, but continues to expect double-digit earnings growth over the next two years. Increased defense spending, a possible recovery in the European construction sector and pent-up replacement demand are expected to support growth.
Nordea also sees support from acquisitions, increased spare-parts sales and an attractive valuation.
