Citi cuts its price target for automaker Volvo Cars to SEK 15 from 16 and maintains its Sell rating with high risk.
The bank cuts its earnings forecasts for 2026-2028 by around 17 percent to SEK 1.59, 2.00 and 2.51 per share, respectively.
Citi expects the automotive margin to decline to 0.7 percent in the third quarter, from a previous forecast of 1.9 percent, pressured by lower volumes, discounts, raw material costs, higher depreciation and currency effects.
Cost savings are expected to provide some support.
