DnB Markets - Elekta AB Class B (EKTA B) Elekta (Hold, TP: SEK82.00) - A soft quarter

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DnB Markets

Patrik Ling

EUR 92.48 For Business Accounts Only

Elekta (Hold, TP: SEK82.00) - A soft quarter

Q3 earnings were softer than we and the market expected. The weak order intake stood out, while strong cash flow was the bright spot in the report. Order intake (c14% below our forecast and consensus) remains hampered by still-poor performance in APAC (mainly China). EMEA was also weak, but on very challenging comparables. Overall, the company was optimistic that Q4 would be in line with last year, bolstering the share price. We reiterate our HOLD, but have trimmed our target price to SEK82 (SEK83).

29/02/2024 1 EN

Underlying

Elekta AB Class B

Elekta AB is a human care company providing clinical solutions for treating cancer and brain disorders. Co. develops tools and treatment planning systems for radiation therapy including brachytherapy and radiosurgery, as well as workflow improving software systems across the field of cancer care. Co. has four product areas: Elekta Neuroscience, which develops solutions for the diagnosis and treatment of neurological diseases; Elekta Oncology, which develops clinical solutions for radiation therapy, imaging systems and clinical solutions for patient positioning and immobilization; Elekta Brachytherapy, which is engaged in cancer treatment based on internal radiation; and Elekta Software.

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SE0000163628 Nasdaq Nordic Stockholm Sweden

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

Patrik Ling

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Elekta (Hold, TP: SEK82.00) - A soft quarter

Elekta AB: 1 director

Elekta (Hold, TP: SEK83.00) - Still on the sidelines

Nokian Tyres (Hold, TP: EUR9.00) - Soft Q1, with or without setbacks

Lyko Group (Sell, TP: SEK95.00) - Stretched balance sheet

Resurs Holding (Buy, TP: SEK18.00) - Resur-recting the case

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