Ambu (Buy, TP: DKK180.00) - Growth momentum set to continue
Ambu is due to report Q2 results at 08:00 CET on 7 May. We expect growth momentum to continue with c14% organic growth, driven by continued solid growth in shipments of endoscopes (we estimate c35%), supported by Anaesthesia, where we see c8% organic growth for the quarter. Based on the strong growth YTD, we at least expect Ambu to increase its FY top-line guidance. We have lifted our target price to DKK180 (160), and reiterate our BUY recommendation
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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