Barco Strong Entertainment offsets weaker Healthcare and Enterprise in 3Q
3Q saw again mixed dynamics with a strong Entertainment driven by global cinema replacement momentum. Healthcare benefited from Diagnostic Imaging in EMEA, while Surgical & Modality declined due to last year's bulk order comparison. Enterprise orders were affected by slower US infrastructure investment in Control Rooms and cautious Meeting Experience sell-out. Barco reiterated its outlook for FY25 topline and EBITDA margin growth. A new €30m SBB is announced. Hold and € 14 TP reiterated.