Handicare (Buy, TP: SEK30.00) - Covid-19 hits core business
Late on Friday Handicare said it was implementing measures to adapt to the current situation and ensure long-term financial stability including substantial cost-cuts. We believe demand has plunged in countries in lockdown and believe it will take a while for demand to recover once restrictions are lifted. Acknowledging the uncertainty we have cut our target price to SEK30 (44), but we reiterate our BUY.Handicare Group is a global provider of mobility solutions in the accessibility and patient handling markets measured by revenue. Co.'s objective is to operate and invest in businesses within the health and rehabilitation sector, own and manage real and personal property and conduct any business compatible therewith.
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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