HEXA B Hexagon AB B

Hexagon AB (Buy, TP: SEK555.00) - High but realistic expectations

We expect solid Q1 results (due at 13:00 CET on 4 May), with organic growth of 8.5% YOY and EBIT of EUR203m, both roughly in line with consensus. The imminent recovery in PPM should be somewhat offset near-term by adverse FX effects, but we believe offers upside potential later on. We reiterate our BUY and have raised our target price to SEK555 (550).
16/04/2018
19 pages
EN

Research Provider

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

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Underlying

Technology - Sweden

Hexagon is engaged in the provision of integrated design, measurement and visualization technologies. Co. has two segments: measurement technologies, which consist of Geosystems that captures, processes and stores position-related information, Metrology, which provides manufacturing evaluation, process qualification and final parts inspection, and Technology, which provides engineering software as well as geospatially powered solutions; and Other Operations, which focuses on the transportation industry in the car and heavy vehicle segments. The Other Operations conducts its business in the Nordic region.

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