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Tobii: Limited line of sight near-term - SEB

Ahead of the Q1 results, we make mixed changes to our estimates while EBIT is largely intact (less than SEK 10m revisions 2024E-25E). The story in Tobii has shifted towards automotive with the Autosense acquisition now closed and the share issue complete, although we think it will take a while for things to ramp up. We highlight elevated estimate risks near-term given the limited details on Autosense. We reiterate our SEK 6-8 per share fair value range.

Ahead of the Q1 results, we make mixed changes to our estimates while EBIT is largely intact (less than SEK 10m revisions 2024E-25E). The story in Tobii has shifted towards automotive with the Autosense acquisition now closed and the share issue complete, although we think it will take a while for things to ramp up. We highlight elevated estimate risks near-term given the limited details on Autosense. We reiterate our SEK 6-8 per share fair value range.
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