Redeye thinks the Q2 report was good, especially from Investment Management. While management commentary was defensive regarding divestments of Principal Investments, Redeye thinks Catella is low-balling and prefers to overdeliver rather than the opposite - implying that both Kaktus and Jönköping could be divested during the fall. Redeye raises its estimates, mainly for Investment Management, resulting in a higher fair value range.
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