CapMan: No reason to hop off

After the Q2 report, we revised our estimates upward due to a strong outlook. Currently, CapMan’s earnings are improving quickly. Relative to the estimated earnings improvement, the share is still not particularly expensive and this together with a strong dividend yield keeps the share’s return/risk ratio sufficient. We do, however, point out that the current share price level is difficult to justify without improved earnings and that there is no room for error in this regard.