Morning Comment Sweden-07/15/2026

研报英文原文证据摘录

Morning Comment Sweden-07/15/2026

Morning Comment Sweden

15 JUL 2026

Today’s research focus S&P 500 intraday

7.560

• XVIVO - XVIVO Perfusion - Buy, TP SEK 310: XVIVO delivered another 7.555

solid quarter, with 36% organic growth and a 19% EBITDA margin. Heart 7.550

was the highlight, posting a record quarter despite no US CAP 7.545

contribution. That said, both the European regulatory decision and the US 7.540

PMA submission for heart have been slightly further delayed, with 7.535

September as the most likely timing for both. The market reaction is 7.530

understandable, though we see the impact as limited if the new timeline 7.525

holds. LINK 7.520

7.515

• ARJO.B - Arjo - Hold, TP SEK 28: Arjo beat on EBITDA by 7% with 4.7% 7.510

organic growth, but the gross margin disappointed on higher 16:00 17:00 18:00 19:00 20:00 21:00

transportation costs, mix and persistent price pressure in DVT and US

rentals. Focus shifts to the CMD on 24 September, where credible actions US and Asia indices (at time of publication)

will be needed to justify a re-rating. LINK 2.00%

1.66%

• ADDT - Addtech - Buy, TP SEK 380: Indications of increased activity

within the grid infrastructure business last quarter materialized in 1.50%

improved order intake and a book to bill that was well above one. While 1.00% 0.90%

Q2 is set to be another in-between quarter of flat organic growth, a 0.74%

strengthened order book and high activity in underlying markets makes 0.50% 0.38%

us comfortable modeling a H2 return to OSG that is ahead of peers. 0.02%

Reiterate Buy, TP SEK 380. LINK 0.00%

• VIT B - Vitec - Buy, TP SEK 370: Q2 marked another solid quarter of sales -0.50% -0.33%

and margin development which trickled down to cash EBIT expanding by Dow S&P 500 Nasdaq Nikkei 225 Hang Seng Shanghai

18% y/y.