JPM cuts Getinge's PT by 11% in tough market

Getinge publ AB

17/06/2024 09:03

** J.P.Morgan cuts PT for "underweight"-rated Getinge
 GETIb.ST  by 11% to SEK 165 on continued inflationary headwinds
on costs, quality challenges and uncertain order development in
China
    ** The Swedish medical equipment maker's shares are down
2.4% at 0753 GMT
    ** JPM says the Surgical Workflows unit's strong growth
trends appear to be normalising while Life Science's destocking
recovery remains unclear
    ** It sees uncertainty in Acute Care Therapies over the
safety warning FDA issued in May, and expects small financial
impact from the recent product recall
    ** It adds that consensus expectations for 24% EPS growth in
2024 looks overly optimistic
    ** Out of eleven analysts covering Getinge, three rate the
stock "strong buy" or "buy", seven "hold" and one "sell"

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))