WDH Gains as Danske Sees 2013 Sales Rebound: Copenhagen MoverChristian Wienberg
William Demant Holding A/S rose the most in two weeks in Copenhagen trading after Danske Bank A/S said new products will boost 2013 sales at Denmark’s biggest hearing-aid maker.
WDH gained as much as 2 percent, the most since Feb. 12. The stock added 1.5 percent to 461.80 kroner at 10:16 a.m. in the Danish capital, with trading volume at 84 percent of the three-month daily average. The gain made the stock today’s biggest winner in the benchmark Nasdaq OMX Copenhagen 20 Index.
WDH shares plunged 5.6 percent yesterday when the Smoerum, Denmark-based company reported 2012 sales and profit that missed analyst estimates. Danske today raised its recommendation on the share to buy from hold and said WDH’s new Oticon Alta hearing aid will boost this year’s revenues.
“Clearly WDH has waited too long in replacing its previous platform and high-end product,” Martin Parkhoi, an analyst at Danske in Copenhagen, said in the note. “However, in January WDH launched a new platform and high-end product, which we believe will provide a strong 2013 rebound.”