GN Store Nord surges as updated guidance, strong execution eases concerns

GN Store Nord A/S

07/11/2024 08:59

** GN Store Nord's  GN.CO  shares surge 11% after the Danish
hearing-aid company posted its Q3 print and updated its
financial guidance for 2024 amid growth challenges  
    ** "It was a very quiet quarter from GN, which is enough to
offer relief in a very downtrodden stock," ABG Sundal Collier
analyst Morten Larsen says
    ** The company keeps its EBITA margin guidance and improves
its outlook for free cash flow, easing concerns over lower 2024
growth expectations
    ** "GN executes strongly on Hearing and costs, while the
weaknesses are mainly market-related, indicating that everything
internal is handled strongly,” Larsen adds 
    ** Up to the previous session's close, shares were down
23.5%​ YTD
    ** Shares are on track for their best day since May 

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))