On our estimates the share is currently trading at 17x ’22e EV/EBIT, offering 4-8% dividend yields for ’21e-’23e. Meanwhile, we see SinterCast generating a 46% ’20-’23e EBIT CAGR thanks to the inherent scalability of its licensing and production fee model, with the EBIT margin going from 23% in ’20 to 41% in ’23e. Finally, due to our estimate revisions, we lower our fair value range slightly to SEK 130-236 (132-240) per share.
Aktuellt
SENASTE
