Coloplast (Buy, TP: DKK590.00) - We expect Q2 in line with guidance
Our Q2 organic revenue growth forecast of 7.4% is in line with the c7% full-year guidance (results due around noon on 3 May). We expect continued strong growth in Ostomy and Urology, and improved growth in Wound care QOQ but the division to remain a drag. With increased investments concluded in Q1, we expect the EBIT margin to improve QOQ. We reiterate our BUY and DKK590 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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