Clavister Holding

Research update


Clavister: A soft quarter

Clavister's report for the first quarter showed slightly lower sales than expected. In the Communication Service Provider segment, better insight into the specific orders would be highly desirable to better grasp the future potential. We arrive at a marginally lower valuation after this quarter’s numbers and our estimate changes, the DCF-valuation indicates a value range of SEK 11-83 (11-85) with a base case of SEK 38 (39) per share.

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