Vimian (Buy, TP: SEK90.00) - Organic growth lower than in Q1
We believe that Vimian saw some headwinds in Q2 in the Diagnostic and Specialty Pharma segments from reduced testing in the livestock market and lower activity in the Italian pet pharma market. The company made two acquisitions in Q2 (one in Medical Technology, one in Veterinary Services). We reiterate our BUY but have cut our target price to SEK90 (110).
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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