SKF stock gains as JP Morgan raises price target and Q2 2026 revenue climbs 6 percent

AB SKF stock (ISIN SE0000108227) is trading close to SEK 275.40 on Nasdaq Stockholm as of September 17, 2026, supported by a recent price target increase from JP Morgan and solid Q2 2026 revenue growth of 6.0 percent compared with the previous quarter.

Analyst moves support SKF stock

According to MarketScreener on September 18, 2026, JP Morgan has raised its price target for SKF stock to 245 SEK from 230 SEK while reiterating an underweight rating, signaling that the bank still sees limited upside despite the recent share price strength.

The same MarketScreener overview shows a last closing price for SKF B shares of 275.40 SEK on Nasdaq Stockholm as of September 17, 2026, representing a daily gain of 2.00% and a year-to-date increase of 12.04%, placing the stock above the average analyst target price of 266.06 SEK and indicating that SKF stock is trading around 3.4% above the consensus target.

Q2 2026 figures show revenue growth but margin pressure

In terms of fundamentals, Q2 2026 is the most recent reported quarter for SKF within the current freshness window and provides the key backdrop for the analyst actions. According to an overview of key figures compiled on September 17, 2026, SKF reported Q2 2026 revenue of SEK 23,195 million, an increase of 6.0 percent compared with SEK 21,873 million in Q1 2026, highlighting a solid improvement in demand across its bearings and motion engineering operations.

The same key figure table shows that Q2 2026 operating profit reached SEK 2,219 million compared with SEK 2,643 million in Q1 2026, meaning operating profit declined by about 16.1 percent quarter on quarter even as revenue increased, a combination that points to margin pressure from cost inflation and product mix.

For the latest twelve-month period referenced in the overview, SKF generated revenue of SEK 89,519 million and operating profit of SEK 8,432 million, with earnings per share over that period at SEK 9.88, providing investors with a broader context to assess how the Q2 2026 interim figures fit into the group’s longer-term performance trajectory.

Diverging analyst views and investor implications

While JP Morgan remains cautious with its underweight stance and a price target of 245 SEK, other analysts are more positive. According to MarketScreener on September 14, 2026, Pareto has reiterated its buy recommendation on SKF with a notably higher price target of 305 SEK, implying roughly 10.7 percent upside from the September 17, 2026 closing level of 275.40 SEK.

The same analyst overview indicates an average price target of 266.06 SEK for SKF stock, which is below the current market price, underscoring how some bullish calls, such as Pareto’s 305 SEK target, are balanced by more cautious views like JP Morgan’s 245 SEK target and underweight rating.

For investors, the key question is whether the Q2 2026 revenue growth of 6.0 percent and the twelve-month earnings per share of SEK 9.88 are sufficient to justify valuations above the consensus target, given that operating profit fell from SEK 2,643 million in Q1 2026 to SEK 2,219 million in Q2 2026 and that at 275.40 SEK the stock already trades above the average analyst expectation.

Stock trades near recent highs

Per price data for Nasdaq Stockholm as of September 17, 2026, SKF B shares closed at 275.40 SEK, with a day change of 2.00% and the move contributing to a year-to-date performance of 12.04% in Swedish krona terms. The price level sits above the average analyst target of 266.06 SEK and below the more optimistic 305 SEK target, placing the stock in the upper part of the indicated valuation range but still short of the most bullish estimates.

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