Ambu (Buy, TP: DKK310.00) - CMD – better view on Visualisation
The CMD is scheduled for 4 October, where we expect Ambu to provide financial guidance for 2018/19 and update its 2020 targets to reflect the Invendo acquisition. We also expect focus on progress of the GI product pipeline and the market potential beyond 2020, but we do not expect new firm long-term targets beyond 2020. We reiterate our BUY recommendation and DKK310 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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