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Gofore: Robust demand turning to improving margins - SEB

Gofore shares have performed relatively well in the turbulent market, but for a reason. Gofore’s Q4 sales came in above expectations with high billing rates. The company also made a large acquisition with nice multiple arbitrage. Moreover, market demand looks strong in the short- and medium- term, with Finnish health care reform boosting already robust demand. We hike our estimates and our fair value range ahead of the Q4 report.

Gofore shares have performed relatively well in the turbulent market, but for a reason. Gofore’s Q4 sales came in above expectations with high billing rates. The company also made a large acquisition with nice multiple arbitrage. Moreover, market demand looks strong in the short- and medium- term, with Finnish health care reform boosting already robust demand. We hike our estimates and our fair value range ahead of the Q4 report.
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