Redeye saw a report with more robust sales and results than expected. Growth was 39% for the quarter; although lower than last year’s total growth of 44%, it is still very respectable. The cash flow is also improving and solidifies the financial position. The report was better than expected, and the long-term growth story remains. We make minor adjustments due to the beating of our numbers and maintain our fair value range and Base case. The Bear case is SEK 36, and our Bull case is SEK 130. The Base case is unchanged at SEK 80 (80) per share.

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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/