Strong profitability and new orders improved 2015 outlook

– Inderes
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Glaston’s Q3 report was better than we had anticipated especially concerning the profitability and new orders received. The company also saw a pickup in market activity. We have raised our FY’15 earnings estimates and our target price to 0.42 € (from 0.41 €). We reiterate recommendation buy as the investment case starts to realize and the valuation is attractive.
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