SB1 cuts its recommendation for specialty fats company AAK to neutral from buy and its price target to SEK 200 from SEK 220. Barclays repeats underweight and cuts its price target to SEK 180 from SEK 195.
Both analysts point to increased margin pressure within Chocolate & Confectionery Fats, where lower cocoa butter prices and tougher competition threaten profitability despite stabilised volumes.
SB1 cuts its EBIT forecast for 2027 by 4–5 percent, while Barclays cuts its forecast by 5 percent. SB1 also highlights a 35 percent valuation discount to comparable companies, but sees limited upside potential.
This morning, Danske Bank also cut its recommendation from buy to hold but maintained its price target of SEK 190.
DNB Carnegie, Nordea, SEB and ABG have also cut their price targets. All repeat their buy recommendation.
