Bank of America upgraded Saab AB Class B shares to buy from neutral and raised its price objective to SEK 720 from SEK 655.
The upgrade comes as BofA strategists maintain a generally cautious outlook for the broader European market. In a separate note, the bank said rising military spending in Europe is benefiting defense companies such as Saab.
Analysts said investors are increasingly favoring companies with clear earnings visibility, strong margins and a solid pipeline of future demand—factors they see as supporting Saab.