Elekta AB Class B

EKTA B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 911.00	Gqn	Tltwxtys

Elekta's Profitability Suffers as Product Sales Decline; Maintaining Our Valuation

Alex Morozov

Feb 14, 2022

We are maintaining our fair value estimate of SEK 133 for wide-moat Elekta despite the disappointing preliminary third-quarter results. Elekta’s Solutions segment posted a 9% decline in the quarter due to supply chain disruptions. The company expects that these challenges will persist into the second half of 2022. While we are planning to modestly reduce our 2022 revenue forecast, we don’t anticipate it to have a material effect on our fair value estimate. We currently view shares as undervalued.

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