Scanfil reported a very good Q1, and the outlook has improved for the remainder of this year. Positive developments look sustainable, which is why we upgrade our 2023 estimates by 1% for net sales and 6% for EBIT. Our raised fair value range for Scanfil is EUR 7.9-9.6 (7.4-9.0), based on three equally weighted valuation approaches (DCF, EV/EBITDA and P/E). Our valuation range indicates a P/E midpoint of 12.1x for 2023, which is nearly in line with the peer group average of 12.3x. Marketing material commissioned by Scanfil Oyj.
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