Morgan Stanley cuts target to SEK 45 for Nibe Industrier stock

Published on 10/21/2026 at 11:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nibe posted SEK 10.85 billion revenue in the second quarter, up 12.40 percent. Nibe Industrier stock trades at EUR 3.99 on October 21, 2026.

Analyst targets frame recovery

Morgan Stanley cut its Nibe target to SEK 45 on October 9, 2026.
Second-quarter revenue reached SEK 10.85 billion, up 12.40 percent year over year.
Nibe Industrier stock trades at EUR 3.99 at 11:31 a.m. CEST at Lang & Schwarz on October 21, 2026.

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Nibe Industrier (SE0015988019) stock was trading at EUR 3.99 at Lang & Schwarz on October 21, 2026, at 11:31 a.m. CEST. Morgan Stanley cut its price target for Nibe from SEK 47 to SEK 45 on October 9, 2026, while keeping an equal-weight rating, according to MarketScreener.

Second-quarter recovery supplies the base

Nibe's second-quarter revenue reached SEK 10.85 billion, an increase of 12.40 percent from SEK 10.08 billion a year earlier. Net income was SEK 751.00 million, compared with SEK 494.00 million in the second quarter of 2025. The figures were reported for the quarter ended June 30, 2026, and are also listed in the company's financial overview by Affärsvärlden.

The operating result rose to SEK 1.23 billion in the second quarter from SEK 944.00 million in the comparable period. That lifted the operating margin to 11.40 percent from 9.40 percent, giving the recovery story a more measurable foundation than the share-price rebound alone.

What does SEK 45 mean for valuation?

The target revisions show a divided analyst picture. MarketScreener reported that DNB Carnegie raised its target from SEK 48 to SEK 54 on October 7, 2026, and maintained a buy rating. Morgan Stanley's lower SEK 45 target therefore puts greater weight on execution and the durability of margin improvement.

Three dates define the recovery

On August 21, 2026, Nibe published its second-quarter report with revenue of SEK 10.85 billion. On October 7, 2026, DNB Carnegie raised its target from SEK 48 to SEK 54. On October 9, 2026, Morgan Stanley cut its target from SEK 47 to SEK 45. The sequence captures the tension between improving reported profitability and differing expectations for the next stage.

Next reporting date

Nibe's next substantiated event is its third-quarter report on November 17, 2026, according to the company's investor calendar and Affärsvärlden. That report will test whether the second-quarter improvement is continuing into the second half of 2026.

Trading context for investors

Nibe develops energy-efficient indoor-climate, heating and control solutions across Climate Solutions, Element and Stoves. Its market capitalization was SEK 79.2 billion as of October 21, 2026, while its primary listing is Nasdaq Stockholm under ticker NIBE-B.ST. The current price remains an intraday indication from Lang & Schwarz rather than a completed Xetra close.

Nibe Industrier was trading at EUR 3.99 at Lang & Schwarz on October 21, 2026, at 11:31 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Nibe Industrier stock.