Surgical Science (Buy, TP: SEK241.00) - Still-tough comparables in Q4e
We expect Q4 total sales growth of 5% YOY and an adj. EBIT margin of 27%, with the highly profitable licensing revenues up c29% YOY. We reiterate our BUY, but have lowered our target price to SEK241 (257) on minor estimate changes. The results are due at 07:30 CET on 21 February.
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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