Morningstar raises fair value estimate on medical device firm Cochlear

Cochlear

15/08/2023 19:55

** Analysts at Morningstar raise fair value estimate on
Australia's Cochlear  COH.AX  by 4% to A$200
    ** Brokerage further upgrades EBIT forecasts on the medical
equipment maker by 2% over the next nine years on average
    ** Cochlear posted 14% increase in its FY23 underlying net
profit after tax to A$305 million ($197.21 million)
    ** Brokerage forecasts a five year group compound annual
revenue growth rate of 9% with sales growth moderating
    ** Three of 20 analysts rate the stock "buy" ,13 "hold" and
four "sell"; their median PT is A$235.50 – Refinitiv data
    ** Stock has risen 20.8% this year, as of last close 


($1 = 1.5466 Australian dollars)

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