Weak Q1, adj. EBIT -37% y-o-y, and announced cost savings. We lower org. sales, but '24e-'26e adj. EPS +8-27% due to Red Lion. Share -17% YTD, valuation is looking fair(er) - up to HOLD (Sell).
22 Apr 2024
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- Published:
22 Apr 2024 -
Author:
ABGSC IT Research | Daniel Thorsson | Simon Granath -
Pages:
14
Weak Q1, adj. EBIT -37% y-o-y, and announced cost savings. We lower org. sales, but '24e-'26e adj. EPS +8-27% due to Red Lion. Share -17% YTD, valuation is looking fair(er) - up to HOLD (Sell).