KappAhl Rises After Nordea Buy Recommendation: Stockholm Mover
KappAhl AB (KAHL), Sweden’s second-largest publicly traded clothing retailer, rose the most in seven months in Stockholm trading after an analyst at Nordea Bank AB recommended buying the stock.
KappAhl jumped as much as 13 percent to 6.35 kronor, the biggest intraday gain since Jan. 31, and was trading up 8.9 percent at 11:38 a.m. The gain was the biggest on the OMX Stockholm All Share Index (SAX), which fell 0.6 percent.
Stefan Stjernholm, a Nordea equity analyst, raised his recommendation on KappAhl to buy from sell, according to data compiled by Bloomberg. He increased the 12-month price estimate for the Molndal, Sweden-based retailer to 7.50 kronor a share from 4.50 kronor.
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