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Carnegie reduces Nolato's target price from SEK 500 to SEK 500, referring to lower estimates for the Integrated Solutions business sector, including electronic cigarette deliveries (VHP).
The recommendation continues to be repeated, according to an analysis.
"We believe that the outlook for Nolatos VHP (vaporization heating products, red notifications) has become more uncertain given the signals of weaker market growth, increased competition, and reduced BAT and PMI forecasts for 2018" , writes Carnegie.
Carnegie has reduced its sales estimate within the Nolato Integrated Solutions business area by 19 to 20% for 2019-2020 and expects a decrease in VHP sales in 2019.
Nolato was traded at 497 SEK Monday at 11am.
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