BofA Ups Nibe Industrier Price Objective After 'Solid' Q2 Earnings

06:32 AM EDT, 08/24/2026 (MT Newswires) -- BofA Global Research bumped up its price objective for Nibe Industrier (NIBE-B.ST) to 47 kronor from 46 kronor after the Sweden-based indoor climate products company delivered a "solid" second quarter with higher-than-expected net sales and EBIT. "We highlight the strong growth momentum in [Climate Solutions] in Q2 at 9% YoY (following c10% in Q1), supported by both solid double-digit growth in both Germany and the Nordics. Into H2'26, we see the favourable policy backdrop for European heat pump to support continued growth momentum, while operating leverage and efficiency initiatives to boost EBIT margins beyond historical levels between 13-15%. As a result, we expect CS margin to reach 14.3% in 2026e (vs consensus 13.9%) and 15.5% in 2027e (vs consensus 13.9%)," analysts said Monday. "This underpins our group 26/27e EBIT forecast, which is c6.6%/14.6% above consensus." The research firm increased its adjusted EBIT projections for the group by 1.9% for 2026 and 2028, and 2% for 2027, alongside higher revenue forecasts for all three years. The adjusted EPS estimates for 2027 and 2028 were also raised, while that for 2026 was trimmed 0.9%. BofA also sees further growth upside in 2027 as the company enters the Air-to-Air segment, with new product launches set for October. The stock's buy rating was reiterated.