Coloplast Rises as Nordea Sees 2013 Gains: Copenhagen Mover

Coloplast A/S (COLOB) rose in Copenhagen trading after Nordea Bank AB forecast further gains for the stock in 2013.

The world’s largest maker of ostomy and urology products rose as much as 0.7 percent to 278.80 kroner, with trading volume at 6 percent of the three-month daily average as of 10:23 a.m. in the Danish capital.

“Coloplast’s increased focus on emerging markets will boost sales, while further cost improvements will ensure that profits rise even faster,” Mikkel Petersen, an analyst at Nordea, said in a note. Nordea has a buy rating and a 12-month price target of 282 kroner.

Coloplast has gained 68 percent this year, beating the 28 percent increase in the OMX Copenhagen 20 (KFX) index.

To contact the reporter on this story: Gelu Sulugiuc in Copenhagen at gsulugiuc@bloomberg.net

To contact the editor responsible for this story: James Ludden at jludden@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.