SB1 Markets cuts target for Thule stock to SEK 250

Published on 10/01/2026 at 15:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 sales reached SEK 3.4 billion and adjusted EBIT margin hit 22.8 percent. Thule stock costs EUR 17.58 on October 1, 2026 versus EUR 17.49.

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Thule Group (SE0006422390) was trading at EUR 17.58 at Lang & Schwarz on October 1, 2026 at 3:39 p.m. CEST, while SB1 Markets cut its target to SEK 250 from SEK 275 and reiterated Buy, as MarketScreener reported on September 30, 2026. The target revision puts the analyst debate ahead of Thule's third-quarter report.

Target falls before Q3 results

SB1 Markets expects 2.00 percent organic growth, adjusted EBIT of SEK 449 million and a 19.00 percent margin in the third quarter, according to MarketScreener. The forecast is more cautious than the company's recent operating trajectory, but the broker points to new products, price increases and cost savings as offsets to weak North American consumer demand.

The next report is scheduled for October 22, 2026. Thule's investor-relations page identifies the release as the third-quarter financial report, giving the SEK 250 target a clear near-term earnings test through the Thule Group investor-relations page.

Q2 margin gives the counterpoint

Thule's second-quarter 2026 sales reached SEK 3.4 billion, while adjusted EBIT was SEK 779 million and the adjusted EBIT margin rose to 22.80 percent, according to the EarningsCalls.dev transcript. Organic growth reached 3.10 percent in the first half of 2026, with Active with Kids and Dogs growing 9.00 percent, creating a quantified counterweight to the cautious broker view.

Management also described a 2.50 percent price increase from August and an expected SEK 50 million tariff refund in the third quarter, according to EarningsCalls.dev. Higher freight and material costs remain the immediate margin risk, while the refund is a one-off benefit rather than a recurring earnings driver.

Thule stock gains 0.51 percent

Thule stock was trading at EUR 17.58 at Lang & Schwarz on October 1, 2026 at 3:39 p.m. CEST, plus 0.51 percent versus the prior close of EUR 17.49 on September 30, 2026. On Nasdaq Stockholm, the primary quotation is in SEK, and the latest structured market data showed a 52-week range of SEK 185.10 to SEK 257.00 and market capitalization of SEK 21.4 billion as of October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Thule stock.