Gapwaves: Reduced losses, solid progress - SEB
2 maj, 10:01
Gapwaves clearly reduced losses in Q1 and showed strong growth of 70% y/y with its tier-one supplier customers. This sets it up well for continued progress toward the planned start of production with Valeo, which is the next key trigger in our view. These plans appear to be unimpacted by tariffs or macroeconomic uncertainty. We forecast 40% y/y sales growth in 2025 and tweak our fair equity value range to SEK 21-28 (20-27) per share.
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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Gapwaves: Reduced losses, solid progress - SEB
2 maj, 10:01
Gapwaves clearly reduced losses in Q1 and showed strong growth of 70% y/y with its tier-one supplier customers. This sets it up well for continued progress toward the planned start of production with Valeo, which is the next key trigger in our view. These plans appear to be unimpacted by tariffs or macroeconomic uncertainty. We forecast 40% y/y sales growth in 2025 and tweak our fair equity value range to SEK 21-28 (20-27) per share.
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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