Taaleri: The stock is correctly priced again
In the end, Taaleri’s Q4 report did not offer major surprises and forecast changes are moderate. The company’s investment story changed clearly at the CMD in November, and investments in its own balance sheet will play a much bigger role in the future. For investors, the key question is confidence in the management’s ability to allocate capital. We still consider the sum of the parts the best way to look at the value of Taaleri that can be found in its parts. The share is now priced in line with our conservative SOTP calculation and we consider the share correctly priced.