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Jefferies Upgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Mon, 20 Jul 2026 02:21:49 -0400

Jefferies analyst Stephanie Dossmann upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underperform to Hold with a price target of SEK125.00 (from SEK105.00).

The analyst comments: “SEK15.6bn SBBs over 2026-27e (25% of Dec-25 share count) partly offset capital recycling dilution per share, supporting the share price in the short term. However, they do not solve underlying operational headwinds, including weak office demand and negative net lettings, with a -5% EPRA earnings CAGR 2025-28E. Upgrade to Hold; PT to SEK125.

Under its new ROE-led capital-recycling strategy, CAST agreed/ completed SEK24.4bn disposals (18% of 2025 GAV) in H1-26 (See page 3). The group intends to

Jefferies Upgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Mon, 20 Jul 2026 02:21:49 -0400

Jefferies analyst Stephanie Dossmann upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underperform to Hold with a price target of SEK125.00 (from SEK105.00).

Under its new ROE-led capital-recycling strategy, CAST agreed/ completed SEK24.4bn disposals (18% of 2025 GAV) in H1-26 (See page 3). The group intends to

Jefferies Upgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Mon, 20 Jul 2026 02:21:49 -0400

Jefferies analyst Stephanie Dossmann upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underperform to Hold with a price target of SEK125.00 (from SEK105.00).

Under its new ROE-led capital-recycling strategy, CAST agreed/ completed SEK24.4bn disposals (18% of 2025 GAV) in H1-26 (See page 3). The group intends to

Jefferies Upgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Mon, 20 Jul 2026 02:21:49 -0400

Jefferies analyst Stephanie Dossmann upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underperform to Hold with a price target of SEK125.00 (from SEK105.00).

Under its new ROE-led capital-recycling strategy, CAST agreed/ completed SEK24.4bn disposals (18% of 2025 GAV) in H1-26 (See page 3). The group intends to

Jefferies Upgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Mon, 20 Jul 2026 02:21:49 -0400

Jefferies analyst Stephanie Dossmann upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underperform to Hold with a price target of SEK125.00 (from SEK105.00).

Under its new ROE-led capital-recycling strategy, CAST agreed/ completed SEK24.4bn disposals (18% of 2025 GAV) in H1-26 (See page 3). The group intends to

Jefferies Upgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Mon, 20 Jul 2026 02:21:49 -0400

Jefferies analyst Stephanie Dossmann upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underperform to Hold with a price target of SEK125.00 (from SEK105.00).

Under its new ROE-led capital-recycling strategy, CAST agreed/ completed SEK24.4bn disposals (18% of 2025 GAV) in H1-26 (See page 3). The group intends to

Kepler Cheuvreux Downgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Thu, 16 Jul 2026 02:44:42 -0400

Kepler Cheuvreux analyst Jan Ihrfelt downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Hold with a price target of SEK144.00 (from SEK140.00).

The analyst comments: “We cut our rating to Hold from Buy after the Q2 report that came in line with our earnings estimates. This year, Castellum has outperformed the sector index by almost 30%. The sharp increase in the share makes further buybacks less attractive. Net lettings in the quarter, excluding the large Ericsson contract of SEK 140, were SEK -122m, equal to 1.5% of rental value, in a situation where vacancies are already at 12.5%. The large

Kepler Cheuvreux Downgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Thu, 16 Jul 2026 02:44:42 -0400

Kepler Cheuvreux analyst Jan Ihrfelt downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Hold with a price target of SEK144.00 (from SEK140.00).

Kepler Cheuvreux Downgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Thu, 16 Jul 2026 02:44:42 -0400

Kepler Cheuvreux analyst Jan Ihrfelt downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Hold with a price target of SEK144.00 (from SEK140.00).

Kepler Cheuvreux Downgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Thu, 16 Jul 2026 02:44:42 -0400

Kepler Cheuvreux analyst Jan Ihrfelt downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Hold with a price target of SEK144.00 (from SEK140.00).

Kepler Cheuvreux Downgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Thu, 16 Jul 2026 02:44:42 -0400

Kepler Cheuvreux analyst Jan Ihrfelt downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Hold with a price target of SEK144.00 (from SEK140.00).

Kepler Cheuvreux Downgrades Castellum AB (CAST:SS) (CWQXF) to Hold

Thu, 16 Jul 2026 02:44:42 -0400

Kepler Cheuvreux analyst Jan Ihrfelt downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Hold with a price target of SEK144.00 (from SEK140.00).

UBS Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Wed, 08 Jul 2026 03:08:05 -0400

UBS analyst Nadir Rahman downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK145.00 (from SEK140.00).

The analyst comments: “Having upgraded Castellum to Buy in January on the basis of value creation from disposals, debt reduction and buybacks, we believe management has largely delivered. The company has announced over SEK20bn of disposals YTD, completed multiple buyback programmes and improved balance sheet flexibility. These actions have driven a 25% YTD share price re-rating, making Castellum one of the strongest performers in our Nordic and wider European coverage. While we remain positive on management execution and raise

UBS Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Wed, 08 Jul 2026 03:08:05 -0400

UBS analyst Nadir Rahman downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK145.00 (from SEK140.00).

UBS Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Wed, 08 Jul 2026 03:08:05 -0400

UBS analyst Nadir Rahman downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK145.00 (from SEK140.00).

UBS Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Wed, 08 Jul 2026 03:08:05 -0400

UBS analyst Nadir Rahman downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK145.00 (from SEK140.00).

UBS Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Wed, 08 Jul 2026 03:08:05 -0400

UBS analyst Nadir Rahman downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK145.00 (from SEK140.00).

UBS Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Wed, 08 Jul 2026 03:08:05 -0400

UBS analyst Nadir Rahman downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK145.00 (from SEK140.00).

Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight

Mon, 06 Jul 2026 02:51:02 -0400

Barclays analyst Paul May upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underweight to Equalweight with a price target of SEK130.00 (from SEK105.00).

The analyst comments: “We update our Castellum forecasts following the announced disposals of the Skåne portfolio to Wihlborgs for net c. SEK13bn (SEK 13.3bn less SEK 371m of deferred tax adjustment), two Stockholm office assets to Alecta Fastigheter for SEK5.0bn, and the early redemption of two outstanding EMTN bonds (0.75% 09/26 €214m outstanding, 0.875% 09/29 €600m outstanding). The transactions are strategically positive: Castellum has demonstrated that it can sell large-scale assets at or around book value, at a time

Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight

Mon, 06 Jul 2026 02:51:02 -0400

Barclays analyst Paul May upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underweight to Equalweight with a price target of SEK130.00 (from SEK105.00).

Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight

Mon, 06 Jul 2026 02:51:02 -0400

Barclays analyst Paul May upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underweight to Equalweight with a price target of SEK130.00 (from SEK105.00).

Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight

Mon, 06 Jul 2026 02:51:02 -0400

Barclays analyst Paul May upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underweight to Equalweight with a price target of SEK130.00 (from SEK105.00).

Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight

Mon, 06 Jul 2026 02:51:02 -0400

Barclays analyst Paul May upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underweight to Equalweight with a price target of SEK130.00 (from SEK105.00).

Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight

Mon, 06 Jul 2026 02:51:02 -0400

Barclays analyst Paul May upgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Underweight to Equalweight with a price target of SEK130.00 (from SEK105.00).

Goldman Sachs Downgrades Castellum AB (CAST:SS) (CWQXF) to Neutral

Mon, 01 Jun 2026 03:09:12 -0400

Goldman Sachs analyst Jonathan Kownator downgraded Castellum AB (CAST:SS) (OTC: CWQXF) from Buy to Neutral with a price target of SEK146.00 (from SEK143.00).

The analyst comments: “Sweden’s macro outlook does not 1. appear as favourable as previously expected, with our economists downgrading their estimates: (i) GS expect subdued real Swedish GDP growth of 1.5% in 2026, (ii) the unemployment rate has increased to 8.6% in April 2026, and iii) increasing market vacancy at c.12% (1Q26). The macro weakness has been feeding through to the real estate market in Stockholm. While prime office rent yoy growth in the region has held stable