Date: 2013-08-01

Goldman Sachs Downs SKF To Neutral From Buy

1052 GMT [Dow Jones] Goldman Sachs downgrades SKF (SKF-B.SK) to neutral from buy, saying the short cycle exposure poses risk. It says SKF trades at a discount to the sector, but is perceived by investors to be one of the stocks most vulnerable to changes in economic conditions. There is still long-term value in the shares, but is unlikely to perform in a slowing growth environment, it says. Goldman lowers its price target to SEK127 from SEK130 to reflect the signs of growth slowing beyond US housing and autos. Shares trade -1.9% at SEK118.75. (AWE)

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