Surgical Science (Buy, TP: SEK260.00) - Bump in the road
The Q2 results were mixed, with sales and EBIT c7% and 5% below our estimates, largely due to a slight slowdown in Educational Products. We have cut our 2023–2025e sales and profitability by 5–10%. We reiterate our BUY, but have reduced our target price to SEK260 (282).
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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