Recipharm (Buy, TP: SEK140.00) - Upgraded to BUY after strong Q1
Recipharm reported stronger than forecast Q1 sales and earnings, and there were clear signs the expansion investments are coming to an end and starting to contribute to sales growth and profitability. We have updated our assumptions to factor in stronger growth and higher margins. As a result, we have upgraded Recipharm to BUY (HOLD) and lifted our target price to SEK140 (105).
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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