Exane Bnp Paribas Re: evaluates medtech stocks, upgrades Demant, demotes Sonova

Sonova Holding AG

11/06/2025 10:25

** EXANE BNP Paribas re-evaluates companies in Medtech and Services sector, shifts preference to Demant DEMANT.CO from Sonova SOON.S

** Raises Danish hearing solutions provider Demant to "outperform" from "neutral", saying new product cycle in H2 will end a two-year EPS downgrade trend

** But cuts Sonova to "underperform" from "outperform", citing easing tailwinds from co's latest product launch, limited catalysts and competitive pressure

** Brokerage cautious about Sonova's "ambitious" outlook; says management transition phase introduces potential operating momentum volatility

 (Reporting by Anastasiia Kozlova)

 ((Anastasiia.Kozlova@thomsonreuters.com))