Here is the company report on Teleste from Atte and Roni after the Q4 results 
We reiterate our Accumulate rating for Teleste and adjust our target price to EUR 4.2 (previously EUR 4.1). Teleste’s Q4 results were in line with our expectations, and the outlook for the current year predicts a continuation of earnings growth as expected. The company’s track record in its North American expansion is continuously strengthening, and with the significantly expanded customer base last year, future growth is also supported by broader shoulders. With the strengthening earnings trend and moderate valuation, we see the stock’s risk/reward ratio as attractive.
Quote from the report:
Long-term profitability forecasts slightly up
Following Teleste’s well-progressed earnings development last year, we slightly revised our long-term profitability assumptions upwards. We now expect the company’s EBIT margin to be between 6-6.8% in the medium to long term, which is already quite close to the lower end of the company’s target range (7-12%). As the good progress continues, there is still room for upside in our forecasts. At the same time, we slightly revised our dividend forecasts for the coming years downwards, reflecting the latest dividend decision.