Kepler Cheuvreux lowers estimates and target price for installation company Instalco. The new target price is SEK 43 (49) with a reiterated recommendation of "hold".

Instalco will release interim results on October 25. Ahead of the report, Kepler lowers the sales estimate by 3-6 percent for 2024-2026 and earnings per share by 14.9 percent for 2024 and 6.3 percent for 2025.

"We expect the quarter to continue on the same track as the previous quarter, with weak organic growth in Sweden of -5 percent and in Other Nordics of -4 percent. We expect an ebita margin of 7.4 percent in Sweden and 7.1 percent in the other Nordic countries," Kepler wrote in an analysis.