Ambu (Buy, TP: DKK225.00) - DDW – a lot to digest
We leave the DDW convention believing Ambu is in a strong position to launch its duodenoscope; however, the timing remains unclear. The new CEO gave a good impression, but we believe he will initially down-prioritise the colonoscope launch and that investors remain hesitant following the leadership change. We have cut our target price to DKK225 (270), but reiterate BUY.
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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