SBB, the landlord at the center of Sweden’s property crisis, has been upgraded to hold because “the sell case seems played out,” equity analysts at DNB Bank ASA said in a note to clients.

The analysts also said that “the near-term risk/reward” has less appeal given the stock is now priced like an option. In the same note, Niklas Wetterling and Simen Mortensen cut the target price on Samhallsbyggnadsbolaget i Norden AB — as the company is formally known — to 3.1 Swedish kronor ($0.29) a share from 4 kronor citing “material refinancing risks.”

SBB shares rose as much as 4.3% when trading started in Stockholm on Tuesday.

The stock has fallen about 81% so far this year amid continued investor concern over SBB’s ability to repay its debts in the face of surging interest costs. Last week, a hedge fund in New York said the company had breached a key debt term and demanded immediate repayment. The claim has been rejected by SBB as groundless.

Read More: Embattled SBB CEO Says US Fund Stands Alone on Breach Claim

--With assistance from Stephen Treloar.