Handicare (Buy, TP: SEK41.00) - Significant cost savings
Handicare hosted a capital markets update on Friday focused on the company’s strategy and the first phase (focus and simplify) of its ‘Lift Up Program’ announced with the Q1 report. A significant cEUR8m in cost savings was announced, and Patient Handling is under review again. The update also indicated a better performance in Q2 than we expected. We reiterate our BUY and have raised our target price to SEK41 (32).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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