Redeye sets fair value for lead generation company Fable Media Group at SEK 8.80 per share. The fundamental value is raised to SEK 9, driven by increased confidence in the forecasts and a lower discount rate.The increase is primarily driven by increased confidence in the forecasts and a lower discount rate following an upgraded quality rating for management. The analysts viewed the Q2 report as strong and in line with expectations. Sales increased 19 percent and the adjusted EBITDA margin of 64 percent was clearly above the comparable companies’ approximately 20-30 percent.The relative valuation gives SEK 8.70. Fable trades at 5.9x this year’s expected EBITDA, compared with 6.4x for similar companies, despite significantly higher margins.Redeye views the outlook for the second half as constructive following a strong start to the third quarter and continued dividend payments.Fable Media falls 5.3 percent to SEK 6.84.