CDON: Exploring strategic alternatives - SEB
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CDON: Exploring strategic alternatives - SEB

After CDON’s Q1 report, we update our estimates and DCF-based mid-point to SEK 92 (88) with a range of SEK 79-105 (75-101). We argue that the company’s initiatives during Q1 to turn around the GMV trend in combination with a lower opex run rate should result in a sequentially improving EBITDA margin in the coming quarters.

After CDON’s Q1 report, we update our estimates and DCF-based mid-point to SEK 92 (88) with a range of SEK 79-105 (75-101). We argue that the company’s initiatives during Q1 to turn around the GMV trend in combination with a lower opex run rate should result in a sequentially improving EBITDA margin in the coming quarters.
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