On a preliminary basis, we expect consensus to raise its ’21-‘23 adj. EBIT estimates by 20-10% on the Q3 beat. Formpipe’s share is -2% over the past month and is trading at 22x EV/EBIT on our unrevised 2023 estimates.
Sales 10% y-o-y, +2% vs. ABGSCe
Strong ACV sales continue; +309% vs. Q3’20
Expect cons. to raise ’21e-‘23e EBIT estimates
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