Ambu (Buy, TP: DKK310.00) - Near-term triggers likely to add fuel
While we await first indications of Ambu’s ability to replicate its success outside of pulmonary in 2019, we see several upcoming triggers supporting further expectation build-up: 1) continued strong H2 aScope momentum; 2) an expected full-year guidance increase with Q3 results (due 08:00 CET on 23 August); 3) likely positive initial feedback from tests on its colonoscope; and 4) an upcoming CMD. We keep our BUY and have lifted our target price to DKK310 (205).
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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