Vimian (Buy, TP: SEK43.00) - IP settlement a clear positive
We expect a strong Q1, among other things driven by the annual ordering programme in Movora (its medical technology operations) and more stable demand in southern Europe (results due at 07:45 CET on 4 May). However, we believe the key positive since the Q4 report is settlement of the VOI IP infringement case with DuPuy (Vimian will pay cUSD70m, and is indemnified by the sellers of VOI for the full amount of the settlement). We reiterate our BUY and SEK43 target price.
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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