Redeye provides an update following CLS’s Q3 2024 report. The report itself largely aligned with our expectations; however, CLS announced a strategic shift focusing entirely on the neurosurgery business. We update our estimates accordingly, which adversely impact sales estimates over our forecast period and lowers our fair value range. However, we highlight that we positively view the strategic change and argue that current share price levels should be seen as attractive for long-term investors.
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