Agilyx: A blip in the road of a long-term success story - Nordea

Agilyx's H1 2023 report noted progress, but macro uncertainty and lower customer production activity resulted in a softer-than-expected financial result, while the company's strategic update indicated a lower number of projects coming into development. We adjust our model to account for the lowered guidance, resulting in downward revisions to our estimates. EBITDA is still set to be positive for H2 2025, however, and the strategic update seems to be playing more to Agilyx's strengths. We continue to view Agilyx as uniquely positioned and our new fair value range of NOK 56-77 (62-85) continues to suggest long-term upside, while Cyclyx FIDs could be near-term triggers. Marketing material commissioned by Agilyx.

Länk till analysen i sin helhet: https://research.nordea.com/api/reportfileapi?id=867706