Analysts at Jefferies lower the target price and estimates for car manufacturer Volvo Cars. The new target price is SEK 25 (37) with reiterated advice to maintain.

For 2024, the estimates for revenue are lowered by 2 percent and for reported operating profit by 4 percent. In a commentary, the analysts write that they adopt a more cautious view on the long-term growth and operating margin.

"Investor sentiment could swing materially due to geopolitical changes, particularly future adjustments to tariffs in North America and Europe as well as regulation of CO2," Jefferies writes, adding that ownership and governance is yet another concern for some investors.