Elekta has medical equipment for cancer treatment and neurosurgery. Elekta has an updated product portfolio and it seems as there is high interest from customers. Elekta’s market is more or less a duopoly with Varian by Siemens Healthcare. My general impression is that cancer treatment is continuing to grow and new products are significantly better than old, which should be good for future sales development. However Elekta EVO has not got US FDA approval yet which is negative for sales. FX effects and tariffs have negative effect now but these effects will probably be mitigated over time. The Elekta share price has been declining significantly the last years and is now at a 10 year low at 44 SEK. Many investors are short the share, probably due to weak financials, and quite weak outlook near term. I think 10% net profit on revenue would be reasonable and that growth will pick up, motivating P/E of 15, which in a positive outlook motivate a long term share price of 70 SEK in a few years. I think it looks like a good time to start investing in Elekta long term.