- Philips is making significant progress towards becoming a medical equipment company.
- The company recently announced the acquisition of Biotelemetry.
- The sale of the Domestic Appliances division will clean up the balance sheet, lift margins and potentially trigger a multiple rerating.
- Management raised expectations for organic revenue growth and margin improvement on the recent Capital Markets Day.
- We see Philips as a solid buy at the current price level.
For further details see:
Philips: The Transformation Towards A Pureplay Medical Equipment Player Continues