Ambu (Buy, TP: DKK165.00) - Eyes on potential guidance revision
We expect Ambu to report relatively weak Q2 results (due at 07:30 CET on 10 May), affected by Omicron and cost inflation, but we believe this is already reflected in consensus. Otherwise, focus will likely be on another potential revision of the 2021/22 guidance. Despite this short-term overhang, we still like the longer-term risk/reward. Thus, we reiterate our BUY andAmbu develops, produces and markets diagnostic and life-supporting devices. Co. has three business areas: Airway Management; Patient Monitoring & Diagnostics; and Emergency Care. Co.'s Airway Management products include laryngeal masks, face masks for artificial ventilation and scopes. The target groups for these products are hospitals and ambulance services. The Patient Monitoring & Diagnostics products comprise single-use electrodes for neurological and cardiological examinations. The target groups for these products are hospitals, clinics, ambulance services and sleep labs. The Emergency Care products comprise ventilation bags, neck collars and manikins for first-aid training.
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