Tecan thrives on higher-than-estimated H1 results

Tecan AG

15/08/2023 10:00

** Shares of Swiss laboratory instruments maker Tecan
 TECN.S  jump 10%, reaching the top of the Swiss mid-cap index,
after the company published H1 results, confirmed outlook
    ** According to Berenberg, Tecan reported a 'solid set of
numbers' considering that several downgrades have occurred
across its peer group, with sales of 541.5 million Swiss Francs,
beating consensus by 2.2% on an underlying basis, the brokerage
adds
    ** "With shares down 18% YTD, we think that the results this
morning should go some way to reassuring investors on the back
of several downgrades from Tecan's peers," Berenberg says
    ** "The adjusted EPS was reported at CHF 5.16 (1H22: 6.34),
beating consensus expectations by 5%," says Baader Helvea
    ** Share on track for a best day in over two years

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))