Redeye is impressed by the strong tailwind that Waystream has at the moment. The performance was partly driven by strong sales of the copper switches in the quarter but generally a stellar performance. We have adjusted our growth assumptions for 2023e upwards, even though we recognize that the expectations now are getting a bit stretched. We increase our Base Case to SEK 115 (100) per share with a substantially higher Bull case at SEK 190 (155).