IAR Systems: Trending in the right direction - DNB

A quality Q2 beat reinforces our view that IAR Systems is gradually coming back to an accelerated profitable growth trajectory after a long negative EPS revisions trend. We do not believe IAR Systems is immune to weakening IT spending but highlight that its 2023 earnings should grow from base that is already ~30% below 2018 levels with positive commercial momentum from its new products exposed to high-growth megatrends, such as IoT, RISC-V and cybersecurity. We have raised our 2022–2023e EPS by 13% and our fair value to SEK140–250 (130–220).

Länk till analysen i sin helhet: https://www.dnb.no/seg-fundamental/fundamentalweb/GetReportSpon.aspx?file=CMPSP_200019.pdf