Sandvik stock gains 1.95 percent as Citigroup lifts target

Published on 09/29/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sandvik stock trades at SEK 381.40 after Citigroup raised its neutral price target to SEK 381 from SEK 372. Q2 revenue reached SEK 36.752 billion.

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Sandvik stock (ISIN SE0000667891) was trading at SEK 381.40 on Nasdaq Stockholm at 9:22 a.m. CEST on September 29, 2026, up 1.95 percent from the previous close. The immediate catalyst is Placera's report that Citigroup lifted its price target to SEK 381 from SEK 372 while keeping a neutral rating on September 29, 2026.

Citigroup target reaches the market price

The new Citigroup target sits SEK 0.40 below Sandvik's intraday price, making the neutral stance a close valuation marker rather than a call for a major rerating. Sandvik's shares remain SEK 31.70 below the 52-week high of SEK 413.10, while the 52-week low is SEK 258.10, both as of September 29, 2026.

The analyst view follows two contrasting updates on September 25, 2026. Borskollen reported that SB1 Markets upgraded Sandvik from neutral to buy and raised its target from SEK 360 to SEK 440, while MarketScreener said Deutsche Bank retained its buy rating but cut its target from SEK 443 to SEK 424.

Q2 growth sets the earnings base

Sandvik generated revenue of SEK 36.752 billion in Q2 2026, compared with SEK 29.700 billion in Q2 2025. Operating profit increased to SEK 7.234 billion from SEK 4.552 billion over the same periods, according to Affarsvärlden. The comparison gives the current share-price debate a concrete operating backdrop rather than relying only on broker estimates.

Sandvik's investor-relations page reported 24 percent revenue growth at fixed exchange rates and an adjusted EBITA margin of 22.6 percent for Q2 2026. Financial net debt stood at 1.0 times EBITDA, a balance-sheet measure that supports the company's capacity to continue investing while industrial demand remains uneven.

October results provide the next test

Sandvik lists its Q3 2026 interim report for October 22, 2026, after a silent period beginning October 1. The next report will test whether the strong Q2 margin and higher order activity can offset Deutsche Bank's expectation of third-quarter order intake below consensus.

Sandvik stock trades above SEK 381

Sandvik stock was last quoted at SEK 381.40 on Nasdaq Stockholm on September 29, 2026 at 9:22 a.m. CEST, with a market capitalization of SEK 478.4 billion and session volume of 112,321 shares.