Eventful period of product launches ahead. Expectations look elevated to us while valuation is rich. At 18.3x EV/EBIT ('24e), we initiate with SELL and a TP of SEK 250.

18 Dec 2023
Carrying too-high expectations

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Carrying too-high expectations
- Published:
18 Dec 2023 -
Author:
Benjamin Wahlstedt | Fredrik Ivarsson | ABGSC Consumer Goods Research -
Pages:
50 -
Eventful period of product launches ahead. Expectations look elevated to us while valuation is rich. At 18.3x EV/EBIT ('24e), we initiate with SELL and a TP of SEK 250.