Antti and Kaisa have published a new company report on Spinnova. 
We reiterate our reduce recommendation and target price of EUR 0.45 for Spinnova. We have not made material changes to our forecasts regarding the progress of the commercialization of Spinnova’s technology following the company’s H1 news flow, even though Spinnova appears to have moved forward in its strategy both in terms of assembling the cooperation consortium around the technology and in verifying the reduction of technology production and investment costs. However, the risk-reward profile of the share remains exceptionally difficult to grasp, which is why we maintain a cautious stance on Spinnova for the time being.