Ambu jumps after it hikes outlook, reports Q3 beat

Ambu A/S

11/07/2024 08:32

** Ambu's  AMBUb.CO  shares rise as much as 6.5% to their
highest since February 2022 after the Danish medical equipment
maker hiked its FY outlook and its preliminary Q3 numbers beat
consensus 
    ** It now sees 12-14% organic growth for the year
(previously 10-12%) and an 11-13% adj. EBIT margin (previously
10-12%)
    ** "Whilst a guidance raise was largely anticipated, we
believe another beat and raise builds conviction in the
turnaround story," says J.P.Morgan in a note
    ** Ambu reported Q3 organic growth of 15% while the
consensus cited by JPM saw 13%
    ** Ambu is one of the top gainers on pan-European STOXX 600
 .STOXX  index; by 0729 stock up 4% 

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))