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Clavister: A Period of Transition - Redeye

Redeye has a mixed view of Clavister's 2Q21 – net sales were softer than forecast while subscription sales and order intake surprised positively. We maintain an optimistic operational outlook and expect a robust second half of 2021. We decrease our Base Case slightly but continue to see value (40%+) at current levels.

Redeye has a mixed view of Clavister's 2Q21 – net sales were softer than forecast while subscription sales and order intake surprised positively. We maintain an optimistic operational outlook and expect a robust second half of 2021. We decrease our Base Case slightly but continue to see value (40%+) at current levels.
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