2341 GMT - Cochlear's new bull at Citi sees no cause for concern in slowing sales at the hearing-implant maker. Raising his recommendation to buy from neutral, analyst Mathieu Chevrier tells clients in a note that the company is simply seeing the usual slowdown in sales ahead of the launch of its next sound processor model. He isn't worried that the economics of processor upgrades are changing. Chevrier contends that the stock's current valuation at 36 times fiscal 2026 earnings, compared with a historical average of 39, offers a good entry point. Citi lifts its target price 3.4% to A$300.00. Shares are up 1.4% at A$266.98. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 18:41 ET (23:41 GMT)
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