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.
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