0038 GMT - Cochlear looks fairly valued to Macquarie analysts following the share-price slump that followed the hearing-implant maker's first-half result. The analysts tell clients in a note that while December-half group unit sales and services revenue fell short of market expectations, there were still things to like about the Australia-listed company's latest update. Developed-market unit sales were up 6% on year on demand from adults and seniors, while group unit sales are still expected to grow by 10% going forward. EBIT was slightly higher than the Macquarie analysts had anticipated thanks to lower costs. Target price falls 2.4% to A$282.15 but Macquarie stays neutral on the stock, which is up 2.8% at A$270.11. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 16, 2025 19:38 ET (00:38 GMT)
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