Jyske Bank cuts GN to 'hold,' sees no upside to estimates

GN Store Nord A/S

08/05/2024 14:23

** Jyske Bank cuts GN Store Nord  GN.CO  to "hold" from
"buy,"  saying it does not see upside to consensus estimates
unless the Danish hearing aid company exceeds its targets
    ** The broker says it expected "slightly more ambitious"
targets than organic growth of 5-8% and EBITA margin of 16-17%
per year from 2025-2028, which the company provided at its CMD
on Tuesday
    ** While the broker sees GN results in the upper end of the
target range, it lowers its 2025-28 estimates for the company's
earnings by 5-6%, pointing to the recent price increases
    ** Out of 19 analysts covering GN, 13 rate the stock "buy"
or "strong buy", five rate it  "hold" and one "sell"

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))