Thule stock: Pareto cuts target for Thule stock from SEK 300 to SEK 275

Published on 10/24/2026 at 04:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Thule posted SEK 2.603 billion in Q3 2026 sales, up 3.00 percent. For Thule stock, Q3 operating margin reached 20.00 percent, up from 17.90 percent.

Quarterly margins and analyst targets

Pareto cut its Thule target from SEK 300 to SEK 275 on October 23, 2026.
Thule reported a 20.00 percent operating margin in the third quarter of 2026.
Thule's market capitalization was SEK 20.8 billion as of October 23, 2026.

SUV mit Dachbox und Fahrradträgern vor Bergpanorama, Symbolbild Outdoor-Ausrüstung — Thule Group AB SE0007158910 zeigt ein SUV mit Dachbox und Fahrradträgern vor Bergkulisse, Illustration mit AI erstellt.

Thule Group AB (publ) reported a 20.00 percent operating margin for the third quarter of 2026, while Pareto Securities cut its target for Thule stock from SEK 300 to SEK 275 on October 23, 2026, according to Zonebourse.

Thule reaches a 20.00 percent margin

The October 22, 2026 interim report showed quarterly sales of SEK 2,603 million, up 3.00 percent from SEK 2,528 million in the third quarter of 2025. Organic sales growth was 1.20 percent, while operating income rose to SEK 521 million from SEK 453 million and included SEK 52 million in tariff refunds, Thule Group reported.

The margin improvement was broader than the headline profit increase. Gross margin reached 49.30 percent versus 47.50 percent a year earlier, while cash flow from operating activities was SEK 791 million compared with SEK 668 million in the prior-year quarter, according to Thule Group.

What do the analyst targets imply?

The target revisions show a divided valuation picture. On October 23, 2026, Pareto lowered its target to SEK 275 from SEK 300, while UBS cut its target from SEK 230 to SEK 210 and Danske Bank reduced its target from SEK 280 to SEK 275; ABG Sundal Collier raised its target from SEK 270 to SEK 275, Zonebourse reported.

Three target changes in October

On October 7, 2026, ABG Sundal Collier cut its target from SEK 300 to SEK 270; on October 15, 2026, Nordea lowered its target from SEK 275 to SEK 250; and on October 23, 2026, Pareto cut its target from SEK 300 to SEK 275, according to MarketScreener and Zonebourse.

Stock valuation after the report

Thule's third-quarter report said the company remained on track for its financial targets, including annual organic growth of 7.00 percent and an adjusted operating margin of 20.00 percent. The same report said organic growth for the first nine months of 2026 was 2.50 percent and adjusted operating margin was 20.00 percent.

On Nasdaq Stockholm, Thule was last at SEK 192.50 on October 23, 2026 at 5:29 p.m. CEST. Its 52-week range was SEK 184.60 to SEK 257.00, and its market capitalization was SEK 20.8 billion as of October 23, 2026.

Thule's products span sport and cargo carriers, active products for children and dogs, recreational vehicle products, and bags and mounts. The company sells products in 138 markets, giving the margin result a broad operating base.

The further course of trading is shown by the continuously updated real-time quote of Thule stock.