Morningstar positive as Cochlear's acquisition of Oticon approved

Cochlear

04/04/2024 20:30

** Morningstar expects hearing implant maker Cochlear
 COH.AX  to utilize its scale and expertise to develop
profitable new sound processors compatible with Oticon's
implants
    ** Brokerage maintains fair value est. of A$220 for stock
    ** COH shares remain overvalued with current earnings growth
unlikely to be maintained - Brokerage
    ** Brokerage still forecasts A$30 mln ($19.80 mln) in
one-off integration costs in fiscal 2025 for COH as Australia's
competition regulator greenlights company's acquisition of
Oticon Medical
    ** One of 17 analysts rate stock "buy", nine "hold" and
seven "sell" or lower; their median PT is A$288 - LSEG data
    ** Stock up 11.7% YTD, as of last close
  
($1 = 1.5152 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))