We have updated forecasts ahead of tomorrow’s Capital Markets Day, which we expect to provide a comprehensive update on innovation strategy, R&D plans and commercial progress. We continue to argue that the market’s negative reaction on the Trading Update on 1st February, which highlighted FY2017 EBITDA in line with our forecast, represented an overreaction. We reiterate our Buy recommendation with a revised target price of 230p (from 250p).
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Forecast update pre tomorrow’s CMD - minor EBITDA upgrades
- Published:
19 Feb 2018 -
Author:
Jens Lindqvist -
Pages:
3
We have updated forecasts ahead of tomorrow’s Capital Markets Day, which we expect to provide a comprehensive update on innovation strategy, R&D plans and commercial progress. We continue to argue that the market’s negative reaction on the Trading Update on 1st February, which highlighted FY2017 EBITDA in line with our forecast, represented an overreaction. We reiterate our Buy recommendation with a revised target price of 230p (from 250p).