** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.