Ambu (Buy, TP: DKK160.00) - Scope for more
Scope for more We initiate coverage of Ambu with a DKK160 target price and BUY recommendation. We struggle to identify any near-term threats to disturb the strong momentum of Ambu’s single-use endoscope platform or the perception of its long-term potential. We believe Ambu’s platform will enable it to achieve its c13–15% organic growth target until 2020 which, combined with continued strong margin expansion, should allow it to deliver a c25% EPS CAGR over the same period.
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.
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