Lapwall: A transformative year ahead - Evli

LapWall releases its Q4 result on 6th of February. As the 2024 result is already largely known, our focus lies on orders, market commentary and outlook for 2025. 2025 will be pivotal for LapWall, with new capacity investment completing in the second half, setting up future growth. We retain our TP of EUR 4.2 and update our recommendation to ACCUMULATE (prev. BUY) to match the updated rating methodology.