DnB Markets - Demant A/S (DEMANT) ... Northern Lights

Report

DnB Markets

Håkon Astrup ...

Mats Bye
Ole-Andreas Krohn
Rune Majlund Dahl
Tomi Railo

EUR 46.07 For Business Accounts Only

Northern Lights

06/08/2020 18 EN

Underlyings

Demant A/S

William Demant Holding is a holding company. Through its subsidiaries, Co develops, manufactures and sells products and equipment designed to aid the hearing and communication of individuals. Co. focuses on four areas: Hearing Devices, Diagnostic Instruments, Hearing Implants and Personal Communication. Co.'s hearing devices include Oticon, Bernafon, Sonic, Phonic Ear, and FrontRow. Co.'s Hearing implant consist of Oticon Medical. Co.'s diagnostic instruments include Maico, Interacoustics, Amplivox, Grason-Stadler, MedRx, and Micromedical. Co.'s personal communication consists of Sennheiser Communications.

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DK0060738599 Nasdaq Nordic Copenhagen Denmark

Dorian LPG

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MHY2106R1100 New York Stock Exchange United States

Metso Outotec

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Neles

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Ocean Yield ASA

Ocean Yield provides investments in vessels within oil-service and industrial shipping industry. Co. is a ship-owning company with investments in vessels on long-term charters.

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NO0010657448 Oslo Bors Norway

Sampo Oyj Class A

Co. is the parent company of a group engaged in the provision of insurance services and the marketing and sale of insurance policies such as worker's compensation insurance, personal accident insurance, motor vehicle insurance, motor third party liability insurance, fire and other property insurance; and cargo insurance.

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FI0009003305 Nasdaq Nordic Helsinki Finland

Provider

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.

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Analysts

Håkon Astrup

Mats Bye

Ole-Andreas Krohn

Rune Majlund Dahl

Tomi Railo

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Northern Lights

Repricing the tonic for bad weather

Demant (Buy, TP: DKK400.00) - Improved long-term outlook

A brewing challenge for the yards

Elkem (Hold, TP: NOK20.00) - Muddling through

ABB (Buy, TP: SEK595.00) - Non, je ne regrette rien

Equinor (Hold, TP: NOK300.00) - Stable valuation relative to peers

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