Thule stock dips after Danske Bank cuts price target but keeps Buy rating

Thule Group AB stock (ISIN SE0007158910) closed at SEK 200.60 on Nasdaq Stockholm on September 18, 2026, down 1.9 SEK or 0.96% from the prior trading day and trading well below its 52-week high of SEK 257.00 as of that date.

Danske Bank trims target on Thule stock

According to MarketScreener on September 18, 2026, Danske Bank lowered its price target for Thule stock from SEK 285 to SEK 280 while reiterating a Buy recommendation, signaling continued confidence in the long-term story despite the slightly reduced upside.

The new SEK 280 target from Danske Bank implies roughly 39.6% upside versus the September 18, 2026 closing price of SEK 200.60, whereas the previous SEK 285 target had implied about 42.1% potential, so the adjustment is modest rather than a fundamental reassessment of Thule Group AB.

Recent earnings and margin performance

As MarketScreener notes, Thule Group AB held its Q2 2026 earnings call on July 20, 2026, presenting the most recent interim financial figures that investors can use to assess the company.

In this latest reporting context, consensus data compiled by MarketScreener show expected 2026 revenue of SEK 10.54 billion compared with historical revenue of SEK 4.07 billion in a prior period, indicating that analysts anticipate a strong expansion in Thule Group AB’s top line when measured against past years.

The same consensus overview from MarketScreener suggests that operating performance is expected to remain robust, with forecast profitability metrics for 2026 and 2027 indicating a continuation of the company’s margin profile rather than a sharp deterioration, which helps explain why Danske Bank maintained its positive rating despite the small target cut.

Stock valuation and trading range

Per data from Reuters as of September 18, 2026, Thule stock traded in an intraday range between SEK 198.60 and SEK 202.00 on Nasdaq Stockholm, closing at SEK 200.60, with this level sitting closer to the lower end of its 52-week corridor between SEK 185.10 and SEK 257.00.

The same Reuters overview indicates that Thule Group AB has 107.84 million ordinary shares outstanding, which at the September 18, 2026 closing price of SEK 200.60 equates to a market capitalization of approximately SEK 21.6 billion, giving investors a sense of the company’s size and positioning within the European consumer goods and leisure equipment segment.

Short interest data compiled by InsideVoice show that as of May 18, 2026, Thule Group was shorted by one reporting investor with an aggregate short position of 0.95% of its share capital, a relatively low level that suggests limited bearish pressure compared with more heavily shorted Swedish names.

Price moves and investor perspective

Looking at the recent trading sequence on Nasdaq Stockholm compiled by MarketScreener, Thule stock changed hands at SEK 204.60 on September 14, 2026, dropped to SEK 197.50 on September 15, 2026, recovered to SEK 198.70 on September 16, 2026, climbed further to SEK 200.60 on September 17, 2026, and then held at SEK 200.60 on September 18, 2026, illustrating a pattern of modest volatility within a relatively tight band.

Trading volume also fluctuated, with 428,963 shares exchanged on September 14, 2026, 411,489 shares on September 15, 2026, 300,298 shares on September 16, 2026, 327,444 shares on September 17, 2026 and 828,141 shares on September 18, 2026 according to MarketScreener, with the jump in activity on September 18, 2026 coinciding with the Danske Bank price target adjustment.

Stock price and key data

Thule Group AB stock last closed at SEK 200.60 on Nasdaq Stockholm on September 18, 2026, with a daily gain of 0.96% versus the prior close and a 52-week trading range between SEK 185.10 and SEK 257.00, leaving the shares roughly 22% below the top of that range as of the same date.

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