Cochlear's (ASX:COH) weaker-than-expected fiscal first-half results are likely a reflection of a slowdown in sales ahead of the company's plan to launch its Kanso 3 sound processor by mid-2025 and not due to a change in the economics of its product upgrades, according to a Thursday report by the Australian, citing investment and financial services firm Citi.
Citi analyst Mathieu Chevrier notes that COH's current valuation of 36 times its forecast for fiscal 2025 earnings per share presents a good entry point when compared with the historical average of 39 times.
The investment firm upgraded COH's rating to buy.
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