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SENASTE
We expect markets to have remained challenging in Q1, with overall muted investment sentiment. That leads us to believe 2025 has started slowly, and we stick to our view that the recovery will take time to fully materialise. Competition remains firm, and with most cost initiatives already having been implemented, we expect some pressure on margins in the near term. We adjust our estimates accordingly with a new mid-point fair value of SEK 9.
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