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SENASTE
Q4 followed the trend of recent quarters with weak net sales, coupled with solid cost control. We think the net sales trend should improve from Q1 2024 with several orders announced as of late. Furthermore, additional orders from its undisclosed tier 1 automotive supplier indicate that it is deepening its collaboration with Gapwaves; we believe a full-scale agreement could be announced during 2024. We reiterate our fair value range of SEK 25-34.
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