Talenom: Rome was not built in a day
Talenom's Q4 result was a slight disappointment, especially in Sweden, but the 2024 guidance was well in line with our expectations. A return to the path of earnings growth is underway as profitability improves, but profitability leaps abroad still require time. We made slight negative adjustments to the forecasts for the next few years and believe that the stock is currently priced more or less correctly considering short-term weakness and great long-term potential.
