SSAB updates on green steel transition, analyst targets signal upside for the shares

By Christina Vogel, Background & Management desk. Reviewed prior to publication on 2026-06-29, 12:14.

SSAB (SE0000108656) remains a key Nordic steel name on Nasdaq Stockholm as investors track the company’s shift toward fossil-free production. The group’s latest communication on its transition plans and recent analyst commentary underscore the strategic weight of its decarbonization program.

What analysts are saying

Morgan Stanley recently reiterated its Overweight stance on SSAB and raised its price target to 100 Swedish kronor from 94 kronor, according to a market note reported by Bloomberg data providers. The move implies upside versus the latest quoted level around the low-90-krona range for SSAB’s Stockholm-listed shares.

The U.S. bank’s update follows a strong year-to-date performance, with SSAB shares showing a gain of close to 30 percent prior to the latest pullback, according to price snapshots compiled by MarketScreener. Consensus data on that platform also indicate an average target price near 96 kronor, with a majority of analysts maintaining positive or neutral views on the stock.

Focus on the transition to green steel

Operationally, SSAB continues to highlight its plan to move away from blast furnace technology and toward fossil-free steelmaking, notably through its HYBRIT initiative with partners LKAB and Vattenfall. The company aims to largely eliminate carbon dioxide emissions from its Nordic production system around 2030 by replacing coal with hydrogen-based processes, according to its investor presentations.

Recent project updates include preparations for converting the Oxelösund site in Sweden and planned investments in new electric arc furnace capacity, steps that SSAB expects will cut emissions while supplying advanced high-strength steels to automotive and industrial customers. Management has also pointed to potential green premiums for low-CO2 steel as a long-term earnings driver, though pricing remains dependent on customer adoption and regulatory frameworks.

What the company sells

SSAB generates its revenue primarily from high-strength steel products, including advanced high-strength steels, quenched and tempered steels, as well as standard strip, plate and tubular steel for automotive, construction, machinery and energy customers. The group also supplies infrastructure solutions through its Ruukki Construction unit.

Where the stock trades today

The SSAB shares (SE0000108656) trade on Nasdaq Stockholm, where the last quoted price in late June 2026 was in the low-90-krona range, with a corresponding market capitalization in the tens of billions of Swedish kronor.

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. All data are based on sources deemed reliable but cannot be guaranteed. Investors should conduct their own research or consult a professional advisor before making investment decisions.