Report
Emilie Krutnes Engen
EUR 95.03 For Business Accounts Only

CSAM Health (Buy, TP: NOK45.00) - Cost reductions in progress

Apart from a currency tailwind, we have made minor updates to our revenue estimates, but have slightly raised our 2023–2025e COGS and opex, as we forecast a slightly slower pace for the announced cost reductions. However, we continue to expect higher operating profitability as CSAM Health fully integrates its acquired companies and finalises its cost-reduction initiatives. Thus, we reiterate our BUY and NOK45 target price.
Underlying
CSAM Health Group

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Emilie Krutnes Engen

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