Getinge Gains as Nordea Sees Europe Stabilizing: Stockholm Mover

Getinge AB (GETIB), a Swedish maker of sterilization systems, rose the most in three weeks after Nordea Bank AB (NDA) said demand is probably stabilizing in Europe.

The shares gained as much as 2 percent, the biggest intraday advance since June 11, and traded 1.9 percent higher at 209.80 kronor as of 10:14 a.m. in Stockholm trading, giving the company a market value of 50 billion kronor ($7.5 billion).

“The impression we get from our industry contacts is that demand for medical technology capital equipment has begun to stabilize in Europe,” Patrik Ling, an analyst at Nordea, said in a note. “The underlying demand is still weak but we believe the bottom has been reached around mid-2013 –- which is good for Getinge’s mid-term outlook.”

Nordea lifted its share-price estimate for Getinge to 200 kronor from 185 kronor on the back of “slightly higher” forecasts for the coming years. The bank reiterated a sell recommendation as it expects Getinge’s second-quarter results, due July 11, to be weaker than its management expected at the time of the first-quarter report.

To contact the reporter on this story: Katarina Gustafsson in Stockholm at kgustafsson@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net

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