Redeye comments on Fable Media Group's updated full-year guidance for 2026. The group now expects net sales of SEK69-74m (previously SEK70-85m) and Adjusted EBITDA of SEK40-45m (previously SEK45-55m). Management attributes the revision primarily to the regulatory changes in Brazil, which have led Fable to suspend its operations in the market for the time being, and secondarily to sportsbook margins in October that were weaker than average. We slightly lower our estimates and Fair Value, and despite the cut, the stock screens as Attractively Priced.

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