Atte has written a new company report on Easor regarding Q2 
Easor’s Q2 figures were overall in line with our expectations, and the number of accounting firm partners continued its upward trend. This year, the company is focusing all its efforts on growth and building international distribution channels, which is mainly reflected in the expense lines for now. If the company succeeds in achieving strong international growth, the stock has significant value creation potential. The stock is priced below our estimated fair value range (0.7-1.4 EUR), and at current valuation (2026e EV/S 2.0x), we see the risk-reward ratio as attractive. However, sentiment regarding the stock is currently weak, and a recovery will likely require an acceleration in growth. We reiterate our “buy” recommendation for Easor, but lower the target price to 0.75 euros (previously 0.85 EUR).