Demant AS

DEMANT: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 148.00	Cdmkxf	Sdbzpcxg

Demant Earnings: Raising Our Valuation on Continued Strong Hearing Performance

Alex Morozov

Aug 16, 2023

We have raised our fair value estimate for narrow-moat Demant to DKK 280 per share from DKK 240 following the release of first-half results. The company continues to see healthy performance in the hearing business, wholesale as well as retail, which has more than offset deteriorating performance in the communications segment. The shares appear fairly valued at their current level.

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