Sandvik stock falls 1.32 percent as Deutsche Bank cuts target

Published on 09/28/2026 at 11:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sandvik stock traded at SEK 373.00 on September 28, 2026, below Deutsche Bank's SEK 424.00 target. Q2 revenue growth reached 24 percent with a 22.6 percent adjusted EBITA margin.

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Sandvik stock (ISIN SE0000667891) was trading at SEK 373.00 on Nasdaq Stockholm on September 28, 2026, down 1.32 percent from the prior close of SEK 378.00. Borskollen reported on September 25, 2026, that Deutsche Bank cut its Sandvik target to SEK 424.00 from SEK 443.00 while maintaining a buy rating.

Deutsche Bank sees a softer quarter

Deutsche Bank expects Sandvik's third-quarter order intake to come in below consensus because of tough comparison figures, according to Borskollen on September 25, 2026. The bank still expects earlier order momentum to lift Sandvik's adjusted EBITA margin by 3.45 percentage points from the prior year.

The revised SEK 424.00 target stands 13.67 percent above the September 28 price. That gap leaves the analyst view constructive, but the lower target and the order-intake warning point to a more demanding near-term earnings comparison.

Q2 growth gives the stock support

Sandvik's investor-relations page lists 24 percent Q2 2026 revenue growth at fixed exchange rates and an adjusted EBITA margin of 22.6 percent, according to Sandvik. Financial net debt stood at 1.0 times EBITDA for the same quarter.

The operating picture therefore combines strong reported growth with a specific volume risk for Q3. Sandvik's next scheduled checkpoint is its Q3 2026 interim report on October 22, 2026, while its Capital Markets Day is set for November 24-25, 2026, per Sandvik.

Stock remains below its yearly high

At SEK 373.00, Sandvik was 9.71 percent below its 52-week high of SEK 413.10 and well above its 52-week low of SEK 258.10. The September 28 intraday range was SEK 371.30 to SEK 378.10, with volume of 201,652 shares.

Sandvik's market capitalization was SEK 467.9 billion on September 28, 2026. The combination of a 1.32 percent daily decline, a lower Deutsche Bank target and 24 percent Q2 revenue growth leaves order intake as the clearest next test for the stock.