Earlier today, Clavister announced that the company has received yet a commercial order from a pan-global telecom provider, placing the order for one of its largest Asian operations. We see orders for the virtualized telecom solution as an obvious catalyst which the market seems to agree with us upon judging the reaction of the stock (up ~8% at the time of writing). Additional orders are likely to continue to close the gap to our base case of SEK 41 per share. The event does not lead to any changes in our forecasts.