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Asetek: A stellar Q3, but market outlook is uncertain - SEB

Asetek delivered solid Q3 results, driven by product launches and new customer ramp-up. However, the global gaming market outlook is starting to look uncertain for the coming quarters. We have increased our EBIT estimates by 7% and 2% for 2023 and 2024, while leaving our long-term estimates unchanged. Our DCF valuation range is unchanged at DKK 6-12 per share.

Asetek delivered solid Q3 results, driven by product launches and new customer ramp-up. However, the global gaming market outlook is starting to look uncertain for the coming quarters. We have increased our EBIT estimates by 7% and 2% for 2023 and 2024, while leaving our long-term estimates unchanged. Our DCF valuation range is unchanged at DKK 6-12 per share.
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