Redeye comments on Zordix ahead of its Q1-results (due 17 May) where we expect the company to see stable performance as it meets tough comps from Q1 last year. The strong release of Smalland which came late in March coupled with very positive reception of Bramble, which was released on 27 April, supports our view of improved growth for the rest of the year. We leave our estimates largely unchanged while we raise our valuation range on the back of an improved rating which has lowered the discount rate for our DCF and our new base case stands at SEK31 (SEK25).
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