DistIT Group reported Q4 earnings below our forecasts (on previously downgraded estimates), burdened by pandemic-related headwinds in sourcing. Prevailing supply chain issues and resulting excess stock-in-trade should mute Q1 earnings too and we cut our full-year financial forecasts accordingly. Our revised estimates are now below consensus, which adds a shorter-term concern. We set our new mid-point value at SEK 150 (SEK 170).
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