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SENASTE
Q1 will likely still show negative growth for Siili. However, we think the market momentum is not worsening anymore and we continue to expect a slow recovery to growth by H2. The company is profiling itself as an AI specialist; we agree with the plan, but due to still low volumes in AI feature development, judging the success of the execution is still challenging. Our fair value range remains unchanged at EUR 9-11.
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