Ambu hits bottom of STOXX amid rating/TP cuts, poor sentiment

Ambu A/S

09/05/2022 12:48

** Shares in Danish medical equipment maker Ambu  AMBUb.CO 
extend their Friday losses, falling 14% to the bottom of
pan-European STOXX 600 index  .STOXX 
    ** Commenting on the share price plunge, Sydbank analyst
Soren Lontoft Hansen points to, among others, rating downgrade
from Danske Bank and several target prices (TP) cuts
    ** On Monday Sweden's SEB reduced TP on the stock by nearly
17% to DKK 104, citing lower gross margin assumptions after the
company's seventh guidance downgrade
    ** The outlook cut sent Ambu shares 11% lower on Friday
 urn:newsml:reuters.com:*:nL5N2WY235
    ** Lontoft Hansen also names poor investor sentiment among
reasons for Ambu's negative share performance
    ** Ambu is the biggest dragger on Copenhagen benchmark index
 .OMXCBPI , which is down nearly 3%
    ** Per Hansen from Nordnet notes that Danish equities seems
to be flirting with so called bear-market, a prolonged period of
price declines of 20% or higher
    ** Ambu's share price is at its lowest in five years
    
    

 (Reporting by Agnieszka Gosciak)
 ((agnieszka.gosciak@thomsonreuters.com))