Morgan Stanley lifts target to SEK 440 for Sandvik stock

Published on 10/21/2026 at 09:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Morgan Stanley raised its target from SEK 380 to SEK 440 on October 19, 2026. Sandvik stock costs EUR 31.48 on October 21, 2026 before Q3 results.

Margin and reporting calendar

Morgan Stanley raised Sandvik's target to SEK 440 from SEK 380 on October 19, 2026.
Sandvik reported an adjusted EBITA margin of 22.60 percent for the second quarter of 2026.
Sandvik stock traded at EUR 31.48 at 9:30 a.m. CEST at Lang & Schwarz on October 21, 2026.
Sandvik is scheduled to publish its third-quarter report on October 22, 2026.

Moderne Industrieanlage bei Dämmerung im Architektur-Rendering, Sandvik AB SE0000667891 — Sandvik AB (SE0000667891) betreibt moderne, hochautomatisierte Fertigungsanlagen und Werke in zahlreichen Ländern weltweit, Illustration mit AI erstellt.

Sandvik (ISIN SE0000667891) is heading into its third-quarter report after Morgan Stanley raised its price target from SEK 380 to SEK 440 and upgraded the stock from Equal Weight to Overweight on October 19, 2026. The bank cited margin potential in metal cutting, price increases and mining demand, as reported by MarketScreener.

Target rises ahead of results

The new target represents a SEK 60 increase from Morgan Stanley's previous level. The analysis said higher tungsten prices could support price increases and that mining equipment demand linked to gold and copper projects could help Sandvik's earnings, according to MarketScreener.

What does the margin mean?

Sandvik's second-quarter revenue reached SEK 36.75 billion, while adjusted EBITA was SEK 8.30 billion and the adjusted EBITA margin was 22.60 percent. The margin was 19.00 percent in the year-earlier quarter, and adjusted profit rose to SEK 5.80 billion from SEK 3.70 billion, according to the company's investor materials and its results presentation at Sandvik. The figures give the analyst upgrade a measurable operating backdrop, although the second-quarter tungsten benefit included a SEK 550 million timing effect.

Three dates shape the setup

On July 17, 2026, Sandvik reported second-quarter revenue of SEK 36.80 billion and adjusted EBITA of SEK 8.30 billion, as detailed by Yahoo Finance. On October 5, 2026, Sandvik scheduled its third-quarter report for October 22, 2026, at 8:00 a.m. CEST. On October 19, 2026, Morgan Stanley set the SEK 440 target and Overweight rating.

Reporting dates are next

Sandvik is scheduled to publish its third-quarter report on October 22, 2026, followed by a webcast and conference call at 10:00 a.m. CEST. The company also scheduled its Capital Markets Day for November 24-25, 2026, according to its investor calendar.

Stock price and valuation context

Sandvik's market capitalization was SEK 438.5 billion on October 21, 2026, while its 52-week range stood at SEK 272.70 to SEK 413.10. That range places the current Stockholm quotation below its yearly high, while the Morgan Stanley target of SEK 440 sits above the quoted level. The upcoming report will test whether the second-quarter margin and mining demand can support the higher valuation case.

Sandvik was trading at EUR 31.48 at Lang & Schwarz on October 21, 2026 at 9:30 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Sandvik stock.