BUZZ-Citi upgrades Australian hearing aid maker Cochlear to 'buy' after recent slump

Reuters

10小時前

BUZZ-Citi upgrades Australian hearing aid maker Cochlear to 'buy' after recent slump

** Citi upgrades Australian hearing implants maker Cochlear Ltd COH.AX to "buy" from "neutral", hikes PT to A$300.00 from A$290.00

** COH, priciest stock in the ASX, trading 2.6% higher at A$270.08 per share

** Citi upgrades stock following a recent slump in share price; says forward PE of 36 times "offers a good entry point"

** COH fell as much as 14% to A$262.73 after issuing disappointing FY earnings outlook on February 14; still trading 11% below its pre-results level

** Brokerage says seeing "usual slowdown in sales ahead of next sound processor model launch"

** COH down 6.8% this year, including the day's move

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))

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