målkurs

Målkurs is a target price that equity analysts assign to a security, indicating the price level they expect it to reach within a defined time horizon, commonly about 12 months. It reflects an analyst’s judgment rather than a guaranteed forecast and is used to communicate potential upside to investors.

Analysts derive målkurs through valuation analyses such as discounted cash flow, multiples (for example price/earnings or enterprise value/EBITDA), and scenario or sensitivity analyses. They incorporate company projections, sector trends, and macroeconomic assumptions. Different analysts may arrive at different målkurs for the same security, and a consensus målkurs can be formed as the average of several targets.

A målkurs is typically presented together with an investment rating or recommendation, such as buy, hold, or sell. The time horizon for the target can vary, and targets are often updated after quarterly results, major corporate announcements, or changes in market conditions.

Limitations and considerations are important: a målkurs is an opinion based on models and assumptions that can change, and it does not guarantee performance. It may be affected by biases, conflicts of interest, or changing information, and actual price movements can diverge significantly from the target.

In practice, målkurs is reported in financial news and used by investors to gauge potential upside and to compare views across analysts. It is commonly discussed in the Swedish financial markets alongside other valuation measures and ratings.