UBS cuts Carl Zeiss Meditec citing lack of near term clarity

Carl Zeiss Meditec AG

17/08/2023 11:58

** UBS downgrades Carl Zeiss Meditec  AFXG.DE  to "neutral"
from "buy", saying the German medical technology firm's vision
lacks clarity to address near term issues 
    ** UBS lists weak consumer sentiment in China, coupled with
uncertainty coming from the country's volume-based procurement
(VBP) and the continuing destocking in its consumer sector as
the main challenges laying ahead for the medtech 
    ** UBS expects the issues "to cap performance, with clarity
not likely on any until the end of this year at the earliest"
for Carl Zeiss, which specialises in ophthalmology solutions  
    ** "We do not expect management to commit to a date on the
mid-term margin target (>20%) until the end of next year," it
says
    ** The company's stock is down 1.3% as of 10:57 GMT, losing
23% from the beginning of the year 
    ** Out of 15 analysts that cover Carl Zeiss Meditec, six  
rate the stock "strong buy" or "buy", ​eight rate "hold" and one
rates the stock "strong sell"​​
           

 (Reporting by Andrey Sychev)
 ((Andrey.Sychev2@thomsonreuters.com; Twitter: https://twitter.com/sich_11;))