We cut ‘22e-‘24e sales by 2%, 1%, and 1% Because of the slowdown in the global smartphone market, we have cut our Royalty estimates for H2’22e and made minor adjustments to 2023e-2024e as well. We also up 2022e License sales slightly on the stronger Q2. Because of this, we cut ‘22e-‘24e sales by 2%, 1%, and 1%, and EBITDA by 3%, 0%, and 0%, respectively.
Share trades at 3.4x-2.6x EV/sales on ‘22e-‘24e On our new estimates, Precise is trading at an EV/sales of 3.4x-2.6x on ‘22e-‘24e, which is fairly in line with its 5Y historical average of ~3x NTM (FactSet consensus). We make no c ... Läs mer på ABG Sundal Collier
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