Handicare (Buy, TP: SEK60.00) - Well-flagged weak quarter ahead
We expect Handicare to report a weak Q1 (due 08:00 CET on 8 May), in line with the communication given in relation to the Q4 report. We see continued high growth in Accessibility from cross-selling, but believe the lack of deliveries in the vehicle business will affect the top line negatively (EURc2m) and hurt the EBIT margin, but the effect will be reversed in 2018e. In Patient Handling, we forecast negative growth but QOQ improvement. We maintain BUY and our SEK60 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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.