Volvo upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Volvo (VLVLY) to Overweight from Equal Weight with a price target of SEK 323, up from SEK 271. The firm thinks 2025 “presents a rising tide” for truck manufacturers, with improving freight conditions and upcoming emissions regulations driving upside. It prefers Daimler Truck due to its significant North America exposure but also upgraded Volvo.