Pauli has published a new company report on Hexagon after Q2. 
Hexagon’s Q2 report offered the market some relief as organic growth slightly exceeded low expectations. However, geopolitical challenges and continued currency headwinds keep uncertainty high, prompting the company’s renewed management team to launch a new cost-saving program. The stock currently appears fully priced, although future strategic changes in 2026 could bring better clarity to the company’s future direction. We lower our recommendation to Reduce (previously Add) while slightly raising our target price to SEK 110 (previously SEK 105), reflecting slightly lower market risks compared to the time of our previous report in early May.