Jefferies upgrades Sweden's Thule Group; shares rise

Thule AB

12/05/2025 12:21

** Thule Group's THULE.ST shares up 7.5% at 0910 GMT

** Jefferies raises the Swedish developer of premium outdoor lifestyle gear to "buy" from "hold"

** Brokerage says Thule is restructuring its North America business, establishing new sales organisation and ending its car seat project to focus on more profitable areas

** Jefferies estimates that less than 50% of U.S. sales are directly impacted by tariffs, thanks to domestic production

** "The company's strong brand power and market-leading position in core product categories, along with its presence in the premium segment and extensive domestic manufacturing footprint compared to peers, are also key strengths" - Jefferies

** Jefferies says Thule stock is down over 30% this year, and now trading near historic valuation lows

** Out of eight analysts that cover the stock, seven rate it "strong buy" or "buy"​, one rates it "hold" - LSEG

 (Reporting by Agnieszka Olenska)

 ((Agnieszka.Olenska@thomsonreuters.com;))