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SENASTE
Balco will report Q2 earnings on 18 August. We expect a clear pick-up in orders from previous quarters affected by the pandemic, though we expect revenues and earnings to remain depressed given the lower order intake during the past year. Valuation has to some extent started to reflect the improving outlook for 2022-23, and given the sound growth prospects and M&A potential, we adjust our fair value mid-point to SEK 112 (SEK 108).
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