Redeye raises the valuation of Xvivo Perfusion on the back of the Q4 report. As highlighted in the report, the acquisition of Organ Assist has given even more possibilities to contribute to growth for the company in the long term than was evident at the time of acquisition. We also believe that we have underestimated Xvivo's moat, a foundation for a more extended growth period than previously thought. We raise our base case to SEK 360 per share (235). Our new bear and bull case is 195 and 470 (130&310).