Sweco stock gains 2.92 percent after Handelsbanken upgrade

Sweco stock gained 2.92 percent to SEK 130.20 on Nasdaq Stockholm on September 23, 2026, as Handelsbanken raised its recommendation and price target. The bank moved Sweco to Buy from Hold and lifted the target to SEK 150 from SEK 143, according to Zonebourse.

Handelsbanken lifts target to SEK 150

The upgrade puts the valuation debate at the center of the share move. Handelsbanken cited an attractive valuation after Sweco's forward EV to EBITA multiple fell from more than 20 times to about 14 times, with its new target based on 15 times projected 2027 EV to EBITA, according to Zonebourse.

Q2 sales rise 9 percent

Sweco's second-quarter net sales increased to SEK 8,567 million from SEK 7,834 million in Q2 2025, while organic growth adjusted for calendar effects was 3 percent. EBITA climbed to SEK 864 million from SEK 750 million, lifting the margin to 10.1 percent from 9.6 percent, according to the Q2 report summarized by Skirner.

Profit for the period reached SEK 601 million, compared with SEK 495 million a year earlier. For the first half of 2026, sales rose to SEK 16,902 million from SEK 15,901 million, while EBITA increased to SEK 1,733 million from SEK 1,651 million, according to Skirner.

Stock remains below yearly high

The SEK 130.20 reference price is 27.59 percent below Sweco's 52-week high of SEK 179.80 and 6.72 percent above its 52-week low of SEK 122. The market capitalization stood at SEK 46,984,713,950 on September 23, 2026, giving the recommendation upgrade a clear valuation context.