UBS raises its recommendation for mining company Boliden to neutral, from previous sell. The target price is raised from SEK 300 to 310.

The analyst firm has reassessed Boliden's prospects, especially in light of the purchase of Lundin Mining's European mines, Zinkgruvan in Sweden and Neves-Corvo in Portugal.

UBS sees the deal as strategically sensible and believes it is at a more favorable valuation than originally expected.

The transaction, which is expected to close in mid-2025, is expected to be accretive to earnings and may provide valuable synergies with Boliden's existing operations.

Boliden's share price was up 2.5% at 13:30 on Tuesday.