(Jiří Soustružník) Patria issued a new CEZ report yesterday. Our new fundamental value estimate, reflecting a deteriorated fundamental outlook, is CZK 110 per share (vs. CZK 140 previously); we reiterated our short- and long-term buy recommendations. Successful testing of the Temelin nuclear power plant, completion of the Melk process, progress in privatization, and good 9M results should be the catalysts which narrow the 40% gap between our target price and the current market price.