Nokian Tyres Down 2.3% as Nordea Downgrades on Russia Risks

• (PLX AI) - Nokian Tyres fell 2.3% after analysts at Nordea cut the stock to hold from buy.
• • Price target cut to EUR 22 from EUR 28
• • It was the latest downgrade by a large Nordic bank for Nokian Tyres, after the stock was already cut at DNB and Danske
• • Although there is currently no evidence that Nokian would abandon its Russia factory, the operating environment has extraordinary risks and investors may not accept sector average valuation multiples for Nokian at this time, Nordea said