• (PLX AI) – GN Store Nord recouped 1.3% after heavy losses yesterday, as analysts said the company was still poised for acceleration from the second quarter.
  • • GN fell as much as 6% yesterday after management highlighted Q1 guidance that the market saw as disappointing, analysts at Goldman Sachs said
  • • Still, cautiousness around Q1 reflects temporary factors in the Audio business, with Chinese port congestion in the last 1-2 weeks as a new headwind
  • • GN has seen increasing component availability in the Audio business through Q1, consistent with FY expectations, which should support accelerating revenue growth through the year, Goldman said
  • • Shipping and manufacturing disruption in China due to Covid last week may result in Q1 falling short, which adds uncertainty, but access to components is improving, analysts at Nordea said
  • • Barring any further lockdowns the Q1 report may prove a positive inflection point for the share, Nordea said, reiterating a buy recommendation and DKK 603 price target
  • • Near-term growth is held back by shipping congestion in China, with a few days of Q1 revenue pushed to Q2 because of the delays, but this shouldn't affect first-half revenues, Carnegie said

Quelle: PLX AI