Private equity firm EQT's shares are rising on the Stockholm stock exchange on Wednesday, after the company received two recommendation upgrades to buy.

Deutsche Bank raised its recommendations for both EQT and Partners Group to 'buy' from 'hold', according to Bloomberg News. The bank expects 2025 to be the first year of a multi-year recovery period for private equity markets, supported by lower interest rates. Deutsche Bank, raises its target price for EQT from 340 to 375 kronor. The recommendation for industry colleague CVC is lowered to keep, from previous buy.

Bank of America also raises its advice for EQT to buy, from previously neutral. At the same time, the advice for CVC and Amundi is lowered to neutral, from previous buy.

EQT shares were up 2.4 percent at 09.40 a.m. to SEK 321 when last paid.