(Bloomberg) -- The shares of troubled Swedish landlord SBB have the potential to rise as much as 80% from their current trading levels but the investment “remains one for the brave,” according to analysts at Arctic Securities AS.

Analysts Michael Johansson and Alexander Gustafsson rated Samhallsbyggnadsbolaget i Norden AB — as the company is formally known — a buy at a target price of 6 kronor ($0.55) a share, according to a note to clients on Thursday. They cited a probability-weighted analysis that factors in a looming court case with hedge fund Fir Tree Partners.

“In a scenario where judgment is given in favor of SBB, a large portion of the current risk-premium attached to the share should be lifted and the share should (fundamentally at least) trade up significantly,” the analysts said. Conversely, in a debt restructuring scenario the value in the shares would be close to zero, they added.

SBB shares fell as much as 6% in Stockholm on Thursday to 3.3 kronor per share, giving the company a market value of just $555 million.

In the past week, pressure has been piling on the landlord as more funds have joined Fir Tree in alleging a breach of a bond covenant, an event that could force the Swedish company to repay some of its debt early. SBB firmly rejects the claim.

Most recently, SBB on Wednesday received letters from three additional funds notifying an intention to accelerate their respective holdings of the company’s 2028 and 2029 notes on the basis of the alleged breach.

A trial at the High Court in London is scheduled for January and is expected to conclude by March.

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