Handicare (Buy, TP: SEK54.00) - Robust recovery in Stairlifts
As indicated in the 13 October announcement, Stairlifts drove Q3 revenue and EBITA and Vehicle Accessibility was the main negative. Near-term outlook comments suggest a continued recovery in Stairlifts, Patient Handling struggling with reduced access to hospitals, and improving profitability from ‘Lift Up’ benefits. We reiterate our BUY and SEK54 target price.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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