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Redeye states the report was below expecations across the board. The reason for the deviation is a postponed satcom order and tougher NRE comps in Wireless than anticipated. Redeye has reset its expecations, primarly on a later F100 ramp-up while Sivers continue to gain traction with AI-related projects. Sivers order book of SEK100m buoys near-term estimates estimates. Redeye lowers its fair value range.
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