UBS has raised its price target for defense company Saab to 710 kronor (from 660), while reiterating its buy recommendation.

In its analysis, the bank notes that it sees upside risks ahead of the Q4 report, which will be released on February 5, driven by continued strength in the Dynamics and Surveillance divisions.

"As a result, we are modeling organic sales growth at the upper end of the forecast range," UBS adds.

Regarding guidance for 2026, it is expected that this will likely be communicated in conjunction with the report. Expectations are that Saab will present the same guidance for 2026 as was provided for 2025 alongside the 2024 year-end results.

As for medium-term targets, these are not expected to be announced with the year-end report, but rather at a potential capital markets day later in the year.

Saab's stock has soared by 185 percent over the past twelve months.