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Investing.com - Deutsche Bank (ETR:DBKGn) raised its price target on Sandvik AB (STO:SAND) to SEK240.00 from SEK220.00 on Thursday, while maintaining a Buy rating on the Swedish engineering group.
The bank cited Sandvik’s continued strong execution in both mining and industrial segments, with particularly robust order growth in mining operations. Deutsche Bank noted that supportive commodity prices, aging equipment fleets, and sustained investment throughout market cycles are driving mining segment performance.
Industrial exposures are showing improvement as leading indicators like Purchasing Managers’ Indices (PMIs) begin turning positive in key regions, with stimulus spending providing additional support in Europe, according to Deutsche Bank’s analysis.
The bank acknowledged ongoing challenges from trade uncertainties and tariffs, which continue to dampen orders and investments, making cost controls particularly important in the company’s SMM division.
Deutsche Bank’s price target adjustment reflects both the re-rating of mining equipment companies and progress made across Sandvik’s divisions.
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