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SENASTE
Tempest Security's Q3/23 report underscored its resilience, with sales of SEK 125.9m (2.4% above our SEK 122.9m estimate) and robust growth of 13% y/y. The overall earnings trajectory looks encouraging, aligning with this and last year's pattern. Tempest's focus on Security Solutions and planned improvements in Risk Solutions contribute to a favourable outlook in our view. We reiterate our DCF-based mid-point value of SEK 24 per share.
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