Ambu (Buy, TP: DKK325.00) - Views from the inside
Following recent interviews with doctors, we doubt Ambu will sell many duodenoscopes before the second version is launched next year. However, our proprietary survey suggests significant long-term potential. Based on our deep dive, we believe other Visualisation products – particularly the cystoscope – should offset initially slow duodenoscope uptake. We have upgraded to BUY (SELL) and raised our target price to DKK325 (281) ahead of several potential positive triggers.
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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