Changes to target prices for UPM on July 24th:
Inderes 24 (reduce) —> 22 (reduce)
OP 28 (buy) —> 28.5 (buy)
Hbanken 29 (buy) —> 28 (buy)
Danske 32 (buy) —> 30 (buy)
Nordea 31 (buy) —> 29 (buy)
DNB Carnegie 24 (hold) —> 23 (hold)
It seems that Inderes and DNB’s recommendations and target prices are more focused on the outlook for the near quarters, while the others are looking a bit further ahead?