Ambu (Buy, TP: DKK234.00) - Guidance increase still possible
We believe the main focus with Ambu’s Q3 report will be to what extent its single-use bronchoscope has continued to benefit from the pandemic. While we had expected Ambu to have already increased its full-year guidance (at least for the endoscope units), we believe management could be playing it conservative. We also expect focus to be on the recently approved duodenoscope and the preparations for its commercial launch. We reiterate our BUY and DKK234 target price.
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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