(THIS IS A ENGLISH TRANSLATION OF THE RESEARCH UPDATE PUBLISHED ON MAY 19) Redeye is updating its view on Invisio after the Q1 report, which came in below our forecast due to factors including lagging deliveries. But the order book is at a record high after receiving major orders, along with generally higher market activity. We are adjusting our estimate for 2022-23E downward and lowering our base case slightly to SEK 210 (SEK 215).