Handicare (Buy, TP: SEK54.00) - Stairlifts back on track
There was limited news in the Q3 report following the 13 October announcement of sales of EUR53.2m and EBITA of EUR6.1m. As also indicated in the announcement, Accessibility drove the positive Q3 results on revenue and profitability, while Patient Handling continued to struggle. We believe a neutral share price reaction is warranted today.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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