Redeye provides a research update following the Q1 report recently published by Magle. While the results for the quarter clearly reflects a company in a difficult position, it should be viewed in light of the ongoing strategic restructuring. Although the company still faces some financial uncertainties to solve ahead, we see the potential for an enticing turnaround case. We reiterate our recently updated fair value range (SEK2 – SEK12) with a base case valuation of SEK8.
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