Lucas has written an analysis of Metacon. 
Metacon’s order intake has developed slower than we expected, and we have not yet seen any clear signs of a pickup in the near term. We have therefore adopted a more cautious view and lowered our growth expectations for the coming years. At the same time, we believe Metacon is well-positioned to win new orders as soon as customers’ decision-making processes begin to gain momentum, considering the company’s extensive sales pipeline and competitive position through the PERIC partnership. Since the share price has fallen by about 35% since our previous update, we believe the risk-reward ratio has become more favorable, with the stock now trading at the lower end of our fair value range. As a consequence, we upgrade our recommendation to Accumulate (previously Reduce), but lower our target price to SEK 0.15 per share (previously SEK 0.19 per share) mainly due to lowered forecasts.