Nordea repeats its Hold rating for game developer Coffee Stain and leaves its price target unchanged at SEK 24 following the second-quarter report for the broken fiscal year. This is stated in an analysis.
The bank sees limited reason to interpret the strong revenue growth as a sign of a higher underlying growth rate. The development is partly explained by lower comparative figures, while a relatively small share of the increased sales has been converted into cash flow-based operating profit.
Nordea therefore lowers its forecasts and sees no clear investment case at the current valuation.
