UBS ups Intrum to 'buy' as capital raise creates 'inflection point'

Intrum AB

19/05/2026 13:36

** UBS upgrades Intrum INTRUM.ST to "buy" from "neutral", viewing its SEK 7.5 billion ($798 million)capital increase as "a clear inflection point for the equity story"

** The brokerage says the equity raise accelerates deleveraging and restores a more credible path toward normalised funding access and costs for the Swedish debt collector

** Adds that the balance-sheet impact is immediate, seeing the substantial dilution as the price of removing elevated risk premiums

** Estimates that the lower debt burden will yield at least SEK 400 million in annual interest savings as INTRUM leverage mechanically improves

** Lowers its price target by 48% to SEK 28 using a sum-of-the-parts valuation to reflect the dilution while still seeing significant upside

($1 = 9.3927 Swedish crowns)

 (Reporting by Marta Frackowiak)

 ((marta.frackowiak@thomsonreuters.com))