Swedbank A stock gains as Nordea lifts price target to 450 kronor

Swedbank AB (Swedbank A stock, ISIN SE0000242455) ended the last completed session on Nasdaq Stockholm at SEK 396.70 on September 16, 2026, reflecting a gain of 1.35 percent versus the previous close in Swedish kronor. According to Placera on September 17, 2026, Nordea Markets responded by lifting its price target for Swedbank to SEK 450 from SEK 427 while reiterating a Buy recommendation, putting the stock in clear analyst focus.

Nordea and other banks lift targets

Nordea Markets now sees Swedbank A stock heading toward SEK 450, up roughly 5.5 percent from the last official close at SEK 396.70 on September 16, 2026, and around 12.7 percent above the average analyst price target of SEK 373.75 cited in recent overviews. As MarketScreener reported on September 17, 2026, Nordea raised its target from SEK 427 to SEK 450 and confirmed a Buy rating, arguing that Swedbank enjoys structurally high profitability thanks to a strong deposit position in Sweden and high returns in the Baltic region.

According to Placera on September 17, 2026, Nordea also revised its estimates for Swedbank's net interest income for 2026 to 2028 upward by 2 to 4 percent and lifted its earnings-per-share forecasts by 2 to 5 percent, placing its profit expectations around 3 to 10 percent above consensus. The same MarketScreener overview shows other banks joining the positive reassessment: Deutsche Bank raised its price target for Swedbank to SEK 419 from SEK 388 while maintaining a Buy recommendation, and Mediobanca increased its target to SEK 373 from SEK 344 but kept an Underperform stance, underscoring a divided view on valuation even as targets move higher.

Share price and recent market performance

Swedbank A stock closed at SEK 396.70 on Nasdaq Stockholm on September 16, 2026, which MarketScreener cites as the latest closing price, and this level represented a five-day gain of 1.35 percent and a year-to-date advance of 23.54 percent in local currency. In the Stockholm market session described on September 17, 2026, Swedbank A was up 2.5 percent intraday and counted among the leading OMXS30 index constituents, as Placera reported on September 17, 2026, highlighting the stock's positive momentum after the analyst actions.

Based on the same MarketScreener data snapshot dated September 17, 2026, Swedbank A shares carried a consensus recommendation of Hold, with an average price target of SEK 373.75 and a gap of minus 5.79 percent versus that average, reflecting that the latest close at SEK 396.70 stands above the mean target. For investors, the quantified gap between the Nordea target at SEK 450 and the consensus at SEK 373.75 shows how some houses see more upside than the broader analyst community, even after a year-to-date price increase of 23.54 percent.

Fundamental outlook behind the calls

Nordea's latest research update, as summarized by Placera on September 17, 2026, emphasizes Swedbank's structurally high profitability, driven by a solid retail deposit base in Sweden and strong returns in its Baltic operations. By lifting net interest income estimates for 2026 to 2028 by 2 to 4 percent and raising earnings-per-share forecasts by 2 to 5 percent, Nordea quantifies a slightly stronger medium-term earnings trajectory than previously assumed, and those revised profit expectations stand 3 to 10 percent above current market consensus.

The bank's analysis suggests that Swedbank could benefit from stable or higher interest margins in Nordic retail banking and continued solid credit quality, supporting an improved return profile over the next three years. While Deutsche Bank's new price target of SEK 419, reported in the same MarketScreener overview dated September 17, 2026, indicates upside of about 5.6 percent from the last close at SEK 396.70, Mediobanca's target at SEK 373 signals roughly 6 percent downside, illustrating that valuation risk and macro uncertainty remain part of the narrative around Swedbank A stock despite the raised targets.

Stock level and investor takeaways

Swedbank A stock's latest available official close of SEK 396.70 on Nasdaq Stockholm, as of September 16, 2026, places the shares above the average analyst target of SEK 373.75 but below Nordea's new SEK 450 objective, reflecting both the strong year-to-date performance of 23.54 percent and differing views on further upside. For investors, the combination of upgraded earnings forecasts, several banks&apos higher price targets and a recent 2.5 percent intraday rise within the OMXS30 index context underlines that Swedbank A remains a closely watched Nordic banking stock with a clearly quantified spread between bullish and more cautious analyst scenarios in Swedish kronor.

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