Ferronordic Falls Another 2.5% as Carnegie Slashes Price Target on Russia Risk

• (PLX AI) - Ferronordic fell another 2.5% on Russia risk worries after Carnegie cut their price target on the company again.
• • Price target cut to SEK 200 from SEK 260, recommendation is hold
• • Ferronordic crashed 11% on Feb. 14 after Carnegie downgraded the stock to hold from buy because of Russia
• • In the meantime, Q4 sales came in better than expected, but demand could turn much worse if the West imposes sanctions on Russia, Carnegie said
• • Since Ferronordic imports equipment into Russia from the EU, the company could be severely affected by such sanctions: Carnegie