DNB sees Ambu returning to double-digit sales growth, ups to 'buy'

Ambu A/S

02/03/2023 10:51

** DNB Markets upgrades Danish medical device maker Ambu
 AMBUb.CO  to "buy" from "hold" as it expects improved 2023
revenues and a likely hike to the group's full-year guidance
    ** "Following a deep dive into Ambu's growth levers, against
market expectations we expect it to return to double-digit
top-line growth this year," the brokerage says
    ** DNB sees a "big" full-year guidance increase as likely,
saying the new management seems to be operating with an
"under-promise and over-achieve" mentality
    ** Out of eight analysts that cover Ambu, two rate the stock
"strong buy" or "buy", three "hold" and three "sell"
    ** Shares in Ambu rise 7% in morning trade, among the top
performers on the pan-European STOXX 600 index  .STOXX 

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))