Barclays starts Elekta with "underperform" citing risks to medium-term growth
05/10/2023 08:51
** Barclays initiates Elekta EKTAb.ST with "underweight"
citing risks to the radiation therapy equipment maker's
medium-term growth and margins
** The brokerage says while it views Elekta's MR Linac
offering as differentiated, it sees limitations to adoption due
to costs, more specialised applications and throughput
** Short-term numbers are supported by the backlog and
improvements in supply chain, it says, but soft order growth is
likely to be challenged by China delays
** The brokerage says it fundamentally prefers the breadth
and depth of the Siemens Healthineers SHLG.DE portfolio, which
poses competitive risks to Elekta
** Out of 12 analysts that cover the stock, three rate it
"strong buy/buy", two rate it "hold" and seven rate the stock
"strong sell/sell"
(Reporting by Jagoda Darlak)
((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))