Barclays initiates flatexDEGIRO, ups Avanza to 'overweight' on scope for growth

flatexDEGIRO SE

12/06/2026 09:31

** Barclays upgrades Swedish digital banking platform Avanza AVANZ.ST to "overweight" and initiates German online brokerage flatexDEGIRO FTKn.DE with the same rating based on their growth prospects
** Barclays is positive on EU/Nordic investment platforms, citing sector-leading growth, high RoE, NII upside and expansion potential
** It names Avanza its preferred platform, citing an unjustified valuation discount to Swedish peer Nordnet SAVE.ST and praising the strategic move to expand into Denmark
** For flatexDEGIRO, the broker expects the strongest EPS growth alongside a valuation upside after a significant YTD de-rating
** Barclays says flatexDEGIRO is "best positioned to benefit from the European Savings and Investment Union" due to its geographic exposure and retail savings   
** It adds NII is an underappreciated revenue source that will drive earnings, with the most rate-sensitive upside seen at flatexDEGIRO and Avanza
** Avanza, Nordnet and flatexDEGIRO are up around 4%, 3% and 6%, respectively, in upbeat morning trade boosted by hopes of a U.S.-Iran deal
     
COMPANY
NEW RATING
OLD RATING
NEW PT
OLD PT
Avanza
Overweight
Equal-weight
SEK 420
SEK 340
flatexDEGIRO
Overweight
-
€41
-
Nordnet
-
Underweight
SEK 310
SEK 260

(Reporting by Agnieszka Olenska)
((Agnieszka.olenska@thomsonreuters.com))