Bang & Olufsen: Uplifting update but priced in, shares slide

Bang & Olufsen A/S

12/01/2021 12:01

(Adds analyst comments)
    ** Shares in Danish luxury TV and stereo maker Bang &
Olufsen  BO.CO  reversed course and are down 4% after initially
rising 7%, as strong Q2 results were already priced in
    ** The company's Q2 EBIT swings to profit of DKK 25 million 
($4.09 million) from a year-ago loss of DKK 77
million urn:newsml:reuters.com:*:nL8N2JN166
    ** The company cites good progress on strategy execution,
high demand for home entertainment products and keeps 2020/21
guidance unchanged  urn:newsml:reuters.com:*:nGNE57VMyn
    ** Nordnet analyst Per Hansen says the report is uplifting
and especially the free cash flow of DKK 139 million looks good
    ** However, it is a "natural reaction" that shares are
falling as at some point good news is already discounted in the
share price, Hansen adds
    ** The stock has risen 44% since the company hiked its
guidance in December  urn:newsml:reuters.com:*:nASN000N1H


($1 = 6.1137 Danish crowns)

 ((marta.frackowiak@thomsonreuters.com))