André, RosárioNicolai, Jonas2023-09-012023-09-012023-01-172022-12-16http://hdl.handle.net/10362/157167This equity research report is about the company Vitrolife. We anticipate that increasing demand for IVF due to increasing maternal age and increasing infertility rates will drive Vitrolife’s long-term growth. A setback could be the APAC region's competitive environment due to its competitors' acquisitions. We see a value driver in Vitrolife’s acquisition of genetic testing service provider Igenomix, positively affecting Vitrolife sales growth in the future. According to this analysis, we set a price target for Vitrolife of SEK233.51 in 2023 and hence give a buy recommendation with an expected total return of 21.34%.engVitrolifeIvfValuationmaster thesis203313461