IAR Systems Sensing improvements - DNB
Despite its exposure to high-growth megatrends, such as IoT and cybersecurity, overall revenue growth for IAR Systems’ programming tools has been low. We believe the Q1 report signalled that the worst is in the past and that the measures taken by its new leadership are leading to a gradual turnaround in its growth trajectory. We have raised our 2023e adj. EBIT by 2%, and reiterate our fair value of SEK130–220/share which corresponds to a 2023e EV/EBIT of 13-25x.
Länk till analysen i sin helhet: https://www.dnb.no/seg-fundamental/fundamentalweb/GetReportSpon.aspx?file=CMPSP_192845.pdf