0138 GMT - It isn't clear to Citi analyst Mathieu Chevrier whether Sonova's share of the hearing-implant market is at the expense of Cochlear. He tells clients in a note that Sonova called out solid market-share gains as well as overall market growth in reporting 18% on-year growth in 1H sales. The increase is well above the 10% volume growth anticipated by Cochlear over its 2025 fiscal year, but Chevrier isn't sure what is behind the difference. It could be that overall market growth is unusually strong, or that the share is shifting from Cochlear or privately held Med-EI. Citi has a neutral rating and A$305.00 target price on Cochlear shares, which are down 0.3% at A$296.99. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 20, 2024 20:38 ET (01:38 GMT)
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