Private equity firm EQT is no longer a top pick at Citi.

"We are changing our top pick in the sector from EQT to CVC, given the high valuation discount, lower tech exposure, and near-term capital raising risks," Citi wrote in an analysis dated February 4, which Dagens industri has reviewed.

The EQT share is making a slight recovery today after three consecutive days of losses.

According to the American bank Citi, EQT's significant exposure to the technology sector is contributing to the stock's continued downward trend.

Earlier this week, on Tuesday, the stock plunged over 10 percent, in line with several other companies on global exchanges – particularly those operating in software, technology, and asset management. The declines followed the launch of AI firm Anthropic's new automation tool, Di reports.