TagMaster: Narrowing Valuation Gap
In our latest research on TagMaster, we state four reasons why we believe investors should be careful to extrapolate the strong Q4'19 report. Despite lower estimates, we are positive about the fundamental development, M&A integration, and IFRS-adoption. The stock's valuation gap to our base case is narrowing but we still identify a 60% upside potential if our investment case plays out.