Anoto: Raised expectations

Research Update

2015-07-24

15:00

This is a short update following not only the revealing of the aspiring OEM partner (HP). During only the last few weeks Anoto has made several other positive announcements. The recent news with the Penvision acquisition, Optika Display and the TStudy exclusivity agreement has made us even more positive towards Anoto’s business operations. With the new information out there we believe it is necessary to revise our short and long-term estimates once again, although no details what so ever has been released regarding the important HP project. In addition, our Rating is strengthened by the stronger financial position. All in all, this results in an increase in our fair value of 66 percent. We have a lot of room for raising our estimates further as soon as we get to calculate with some actual numbers. The uncertainty associated with the coming HP announcement of course makes our assumptions extra uncertain, which means that this analysis update might be obsolete within days.

VW

Viktor Westman

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