Cochlear plunges as UBS asks investors to 'sell' over potential Moderna vaccine

Cochlear

06/02/2024 02:09

** Shares of Australia's Cochlear  COH.AX  fall as much as
6.4% to A$288.8, set for their worst day since Sept. 2022 if
losses hold
    ** Analysts at UBS lower price target on the firm which
makes medical devices to A$240 from A$260
    ** Brokerage downgrades rating on stock to "Sell" from
"neutral"
    ** UBS expects Cochlear's implant sales to be possibly
impacted if Moderna  MRNA.O  makes a vaccine against
cytomegalovirus (CMV) infection
    ** Stock hits lowest since Jan.24 
    ** Three of 16 analysts rate the stock "Buy", seven "Hold"
and six "sell" or lower; their median PT is A$260.88 – LSEG data
    ** Stock has risen 3.3% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))