Kepler Cheuvreux upgraded Sandvik to Buy from Hold. The upgrade follows a 9% drop in Sandvik shares on Friday.
Investors reacted to a shortfall in order intake despite a second-quarter core profit beat. Kepler analysts cited the price correction as an attractive entry point. The firm noted that Sandvik's near-term earnings power proved stronger than anticipated.
DNB Carnegie lowered its price target to 440 kronor from 450. DNB Carnegie reiterated its Buy rating.
Morgan Stanley cut its target to 380 kronor from 410. Morgan Stanley maintained an Equal Weight rating.