Nordic will release its Q1 results 20 April and we are in the high-end range of the NOK 130-140m guidance. Though we expect few surprises, guidance has been conservative since Q1/19 with only one quarter slightly below the midpoint while 3 out of 8 have been above the high-end range and the stock has historically performed well around earnings releases. We have made minor adjustments to our 2021 estimates and reiterate BUY and NOK 175/sh TP.
