ALK-Abello (Hold, TP: DKK1125.00) - Set for in-line 2019; still awaiting US
As ALK-Abello raised its 2018 guidance in December, we expect focus in the Q4 results (due at 08:00 CET on 7 February) to be on the 2019 guidance and modest uptake of ODACTRA despite being high season. We expect 2019 guidance for revenue of DKK3.15bn–3.25bn and EBITDA of DKK125m–175m, with the mid-point reflecting its aim of >10% organic top-line growth from 2019. We have cut our target price to DKK1,125 (1,200) and downgraded ALK-Abello to HOLD (BUY).Alk-Abello is engaged in the development and marketing of pharmaceutical products for the treatment, prevention and diagnosis of allergies. Co.'s product portfolio comprises allergy vaccines, emergency treatments and allergy diagnostics products. Co.'s allergy vaccines product offering comprises tablet vaccines, sublingual vaccines and subcutaneous vaccines. Co.'s emergency treatments product offering comprises products for the management of anaphylaxis. Co.'s allergy diagnostics product offering comprises allergen extracts for allergy testing, such as skin-prick tests.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.