Getinge (Hold, TP: SEK110.00) - Missed estimates from Getinge
Getinge reported Q4 earnings and the outcome did not reach our estimates or consensus. The major deviation was the gross margin but most cost items were also a tad above our forecasts. Our impression is that the earnings uncertainty remains high in Getinge post Q4 and hence we reiterate the HOLD recommendation. Our target price is adjusted to SEK110 (SEK120) on the lowered estimates.
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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