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SENASTE
We think Gofore’s Q4 report is further proof of the company’s execution. After Q2/23, it became evident that growth would slow towards the end of the year, prompting Gofore to start focusing on profitability, which paid off in H2 and Q4. The company will likely have to continue defending its margin for a couple of quarters, but we remain confident it will return to double-digit growth by 2025. Our fair value range is finetuned to EUR 28-30 (27-30).
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