Vitrolife: The company enters 2023 with good progress - Redeye
Vitrolife’s enters 2023 with good progress. The organic growth is 9%, with support from all three lines of business. It is also reassuring that Genetic Services delivers a quarter with 7% organic growth. The gross margin is an important value driver, and the 56.7% gross margin is also a decisive outcome. The overall result is ahead of both our and the market expectations, and we expect a distinctive 5%+ positive share price reaction on the back of Vitrolife’s Q1. Our base case valuation ahead of Q1 was SEK285 and a Bull Case of SEK400 and a Bear Case of SEK140.
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