Redeye updates our outlook after Q1. XVIVO’s result indicated a mix of organisational improvements and strong demand. Again XVIVO beat both our and market expectations. We make a minor positive sales revision driven by a positive Abdominal revision, improved gross margins, and a slightly higher OPEX level reflecting investments in ongoing and approaching launches. We increase our base case to SEK 405 (385) with a Bull of SEK 800 and a Bear of SEK 105.
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