The positive overall sentiment in the economy combined with good end demand for EMS manufacturing services led Scanfil to upgrade its revenue guidance by 6% on Friday, 11 June. Due to a new outlook for the full year, we upgrade our adjusted operating profit estimate by 4% for 2021. The share price has outperformed the OMX Helsinki index by 9% YTD and the company's 2022E P/E and EV/EBITDA multiples are now 20% above those of the peer group according to our estimates. Our new fair value range for Scanfil is EUR 6.5-8.0 (6.3-7.7). Marketing material commissioned by Scanfil Oyj.
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