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We re-iterate our previous target price of 35.0 EUR for Qt Group and lower our recommendation to reduce (prev. Accumulate). Qt’s equity story combines a market with large growth potential, a product with proven competitiveness, demonstrated ability in strategy implementation, and a scalable business model. The company is also currently transitioning towards the strong and profitable growth phase of its strategy, which makes the investment profile highly appealing. The rise in share price does however limit share’s return potential, even if Qt executes excellently on its strategy to reach its goals.

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Trade. (Qt)

Qt Group PLC is engaged in Qt product development, commercialization and licensing under commercial and open source licenses. It is used for developing cross-platform applications and graphical user interfaces for desktops, embedded systems, and mobile devices. This technology is used in various devices and applications, including consumer electronics, vehicles, airplanes, and industrial automation applications. Geographically, it has a presence in the Rest of Europe and APAC and North America. It derives revenue from License sales and consulting and others.