New product launches to boost Thule's growth - Kepler Cheuvreux reiterates 'buy'

Thule AB

10/06/2025 12:46

** Kepler Cheuvreux expects Thule Group THULE.ST growth to get a boost from new product launches, while it reiterates "buy" rating on the Swedish outdoor equipment maker and raises PT by 3% to SEK 310

** The broker notes that growth is expected to benefit from two new product areas: child car seats and the company's first product for dog transportation

** "Thule's strong profitability also supports its premium multiples," it adds

** Kepler sees Thule's sales increasing by 7% due to the Quad-Lock acquisition, though organic sales may be hurt by a negative currency effect

** It expects 2025-26 EBITDA forecasts to increase by 15% due to Quad-Lock, which translates to an EBITDA margin of 25%

** Shares in Thule rise about 4.8% at 1146 GMT

** Out of 8 analysts covering Thule, all rate the stock "strong buy" or "buy"​

 (Reporting by Anna Chaberska)

 ((Anna.chaberska@thomsonreuters.com;))