Kalmar’s Q2 figures turned out slightly positive overall compared to our expectations, and the service business, which had suffered from challenges earlier in the year, improved its performance rapidly. The company’s market situation remained stable, and the company made no changes to its guidance for the current year. Our earnings forecasts for the coming years also remained practically unchanged despite the adjustments we made. Thus, we reiterate our “accumulate” (lisää) recommendation and our target price of 46 euros for the stock.
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