Q-linea: Commercialization approaching Fast

Research Note

2021-02-19

07:30

Redeye sees the fourth quarter published yesterday as another step towards commercialization. The quarter's financial outcome was uneventful, even if the costs this time were lower than expected. Progress is much in line with what is expected at this point, and the timetable seems to hold. Overall, we still have a favorable view of the progress made and remain optimistic about the long-term Q-linea case. However, we are adjusting our sales estimates downward for 2021 due to the still uncertain market; at the same time, we have lowered our cost estimates. These movements have a marginal effect on the valuation, and as we also roll our DCF model forward a year, there is a small positive effect on our fair value in our base case, which is raised to SEK 180 (175) share.

MH

Mats Hyttinge

Sign up for free to continue

Already a member?

Sign in

Disclosures and disclaimers

Premium Plan required to unlock

Unlock companies to access

more high quality research.