Although Inderes’s Q3 EBITA was slightly ahead of our estimate and we keep our estimates largely unchanged, the report leaves us with a mixed feeling. This is due to the slowness in international sales as the Swedish event business faces a more challenging market. Yet, the case remains unchanged: a solid foundation in domestic market which is now growing while international growth offers optionality. Our fair value equity range of EUR 19-21 per share is unchanged.
LÄS MER
