Nordea maintains buy ratings for Sinch and Munters

Nordea has issued updated investment recommendations for two Swedish companies, Sinch and Munters, maintaining buy ratings for both despite differing outlooks.

For cloud communications provider Sinch, Nordea raised the price target by 34 percent, from 50 to 67 SEK. The optimism is driven by improved development in the Americas segment, stronger cash generation, and the expected role of CPaaS as an enabler for AI applications. Nordea’s projected adjusted earnings per share for 2027 is approximately 13 percent higher than market consensus.

In contrast, climate control company Munters saw its price target lowered from 250 to 215 SEK due to risks involving delivery disruptions and higher component prices. Despite lowered estimates for adjusted EBITA for 2026–2027 and potential delays in DCT volumes, Nordea maintains its buy recommendation, citing a strong order book and structural growth in the data center market.