Mestro: Measuring up to a Big Task - Redeye

Redeye initiates coverage on Mestro, a well-positioned property technology company offering a cloud-based energy monitoring service platform. Mestro has several of the Nordic region’s most prominent property owners as customers and is set to grow both in the Nordic home market and in continental Europe through its established customer base. Considering Mestro is trading at around 2x EV/sales on 2023E, we believe the market’s expectations of future growth and profitability are too defensive.

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