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ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Growth outlook improved further

Another impressive growth quarter bolsters our conviction further. BUY: TP raised to SEK 20 (17).

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Growth momentum to continue

Improved market and strong execution to drive continued strong growth and margin expansion. BUY: unique, attractive exposure, and deep value support.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Reinforced confidence in earnings scenario

Blowout Q1 growth and solid gross margin bolster our conviction. BUY: TP raised to SEK 17 (15).

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Ready to capitalise on demand recovery

We expect gradual growth acceleration and margin improvement to profitability in 2024e. BUY: unique, attractive exposure, and deep value support.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

On track for profitability in 2024

Sales slightly below but better earnings/cash flow. Estimates intact, company sees signs of improved demand. BUY: we continue to see good upside.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

We expect a solid margin improvement

Sequentially lower growth should be well-anticipated. Margins should improve meaningfully despite iOS17 effect. BUY: we continue to see good upside.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Promising growth outlook after reassuring Q3

Strong growth and good cost control bolster our confidence. We continue to see good long-term upside: BUY.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Encouraging Q2 reinforces BUY

Impressive performance given challenging environment. Limited estimate revisions, but increased confidence. We continue to see good long-term upside: BUY.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

A lot to prove

Q1: some good, some bad, but mostly undramatic. We leave our 2023e sales essentially unchanged, while we continue to see good long-term upside - BUY.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Derek Laliberté
  • Simon Granath

Q1: tough comps and still-weak demand

Q1 low point should be well-anticipated. We take a more cautious approach amid market uncertainty. BUY: we see good long-term upside.

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