Morningstar backs Australia's Cochlear on new hearing implant product
BUZZ-Morningstar backs Australia's Cochlear on new hearing implant product ** Morningstar reiterates A$110 fair value estimate for Cochlear Ltd COH.AX; says shares are slightly undervalued, is more optimistic than the market on resilience of cochlear implant demand
** Investment research firm says hearing implant maker will benefit from its new product, Nexa
** Says co to realise this from 2H26 as hospital approval bottlenecks resolve and availability improves
** Morningstar notes firm earns large proportion of its revenue from sound processor upgrades and accessories used in implants which offsets risk of increased price pressure from competitors
** Expects 7% average revenue growth from FY27 vs guidance of about 4% in 2H26, driven by Nexa uptake and penetration in emerging markets with faster birthrates and rising affordability
** YTD, COH down 62.9%, as of stock's last close
(Reporting by Aamir Sheik Khalid in Bengaluru)
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