Sonova drops as Barclays downgrades, saying recent launches priced in
18/09/2024 09:35
** Barclays cuts Sonova SOON.S to "equal-weight" from
"overweight", saying the Swiss hearing aid group's most recent
launches have already been priced in
** Shares in Sonova are down 1.6%
** Barclays says the company's FY guidance is "achievable",
but points to limited catalyst to estimates, particularly from
Sphere's launch, as it is already "in the price"
** Although the brokerage likes Sonova's position in the
sector for the long-term, it continues to prefer Amplifon
AMPF.MI
** That said, the broker sees Sonova as a "market leader in
wholesale, with best-in-class profitability and cash
generation", noting a strong balance sheet versus peers
(Reporting by Amir Orusov and Anastasiia Kozlova)
((Amir.Orusov@thomsonreuters.com;
Anastasiia.Kozlova@thomsonreuters.com))