Motion Display: Important pieces in place for stronger H2’22 and international expansion beyond – Emergers

With a unique technique and great cost advantages, Motion Display’s e-paper displays are well documented to produce a dramatic increase in sales for retailers. The retail industry is now scrambling for “next-level-in-store-marketing” and with the addition of a Global Sales Director the company has a solid foundation for its ambitious international expansion plan. However, in lack of a steady order inflow and with lower than expected topline in H1’22, we’ve lowered our forecast for FY’22 and now find support for a fair value of SEK 2.1 – 2.5 (2.8 – 3.3) per share in 12-24 months, but also note that the company stands ready to deliver, should the market start to move, which would drive a considerable revaluation.