Barclays stays bullish on Saab, lifts TP, sees order momentum continuing

Saab AB

21/09/2026 08:51

** Barclays raises its target price on Saab SAABb.ST to SEK 755 from SEK 740 and keeps its "overweight" rating, citing stronger earnings estimates and continued order momentum of the Swedish defence equipment maker
** The broker lifts its 2027-2028 EPS forecasts by 2% and expects third-quarter EBIT of SEK 1.93 billion ($196 million), about 4% above consensus, helped by stronger margins in the Surveillance unit
** Potential deals with the Netherlands, NATO and Canada for GlobalEye, alongside Gripen opportunities in Sweden and Canada, could take backlog to about SEK 548 bln, or 5.6 times 2026 revenue, Barclays says
** The broker adds a longer-duration backlog and growing international exposure should extend Saab's growth profile and support margin improvement, while customer prepayments could boost free cash flow
** Out of 13 analysts that cover Saab, six rate the stock "strong buy" or "buy,"​ six rate "hold" and two​ rate the stock "strong sell" or "sell"
     
($1 = 9.8369 Swedish crowns)

(Reporting by Jesus Calero)
((jesus.calero@thomsonreuters.com))