Bang & Olufsen: Rising like a phoenix - Carnegie starts with "buy"

Bang & Olufsen A/S

24/09/2020 11:28

** Carnegie initiates Bang & Olufsen  BO.CO  with "buy" and
a TP of DKK 18/shr saying the Danish audio and video equipment
company starts its turnaround amid the COVID-19 crisis
    ** According to the broker, the company may benefit from the
pandemic, as consumers' spending habits shift towards home
investments
    ** "Provided the pandemic does not worsen and cause national
shutdowns again, we believe home investments will continue in
the quarters to come," Carnegie says 
    ** The brokerage expects a sales growth in the next interim
report, supported by the 'working from home' trend and new
product launches
    ** Shares were up as much as 6.83% to 12.6 DKK this morning
before paring some gains around midday, now up 1.2%

 ((Jakub.Lubinski@thomsonreuters.com))