reports
- Dylan Van Haaften
- Eric Yoo
BICO GROUP | UNDER REVIEW vs. BUY | Under Review
BICO GROUP | UNDER REVIEW vs. BUY | Under Review • Q2 profit warning on murky outlook, TP, and Rating to Under Review. • Disappointing Q2 results driven by account receivable write down… • … however key worry is likely the capital sales outlook, rating to Under Review
- Dylan Van Haaften
BICO GROUP BUY | SEK169 BICO acquires Allegro 3D, and bolsters li...
… º BICO is the industry leader in Bioprinting… We envisage light-based bioprinting to be the key differentiator amongst fierce competition… BICO to focus on smaller and strategic deals to bolster BICO’s core business… Reiterating Buy rating at a target price of SEK 169
- Dylan Van Haaften
- Eric Yoo
BICO GROUP: BICO robust Q1 earnings after CFO resignation fallout | BU...
BICO GROUP - BUY | SEK169 BICO robust Q1 earnings after CFO resignation fallout Strong organic growth confirms our hypothesis around the company’s trajectory toward profitability and high organic growth through operational excellence… All eyes are on positive EBITDA and free cash flow, more clarity upon investor call Reiterating Buy rating at a target price of SEK 169
- Eric Yoo
BICO GROUP: Adjusting the target price to SEK 169, given higher percei...
BICO GROUP - BUY | SEK169 vs. SEK254 Adjusting the target price to SEK 169, given higher perceived risk post-CFO resignation CFO’s resignation appears related to a conflict in strategy Re-iterating Buy rating, reducing target price to SEK 169 (from SEK253) due to higher cost of capital reflecting perceived risks by Investors
- Eric Yoo
BICO GROUP: Cause of sudden resignation of BICO’s CFO too early to cal...
BICO GROUP - BUY | SEK254 Cause of sudden resignation of BICO’s CFO too early to call BICO’s CFO Gusten Danielsson’s abrupt resignation reignites uncertainty … … but current valuation appears detached from the fundamentals Reiterate BUY and SEK254 TP as it is too early and opportunistic to draw conclusions
- Dylan Van Haaften
- Eric Yoo
BICO GROUP Initiation of coverage BUY, SEK254 Breaking Eroom’s law
We are initiating BICO (STO: BICO) with a BUY rating and a target price (TP) of SEK 254. BICO is a commercial MedTech company (SEK1.26Bn revenue, 44% organic growth, 2021) with a SEK 11Bn market cap within the attractive Bioconvergence sector. BICO’s strategy revolves around bringing bioprinting, biosciences, industrial solutions, software, and services to the biopharma industry, which needs to i) reduce organ/tissue shortages, ii) streamline the drug development process by enhancing R&D product...
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